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Medicare Sets Payment Rates for COVID-19 Vaccine Administration

On Wednesday, the Centers for Medicare and Medicaid Services (CMS) released new Medicare payment rates for COVID-19 vaccine administration. The Medicare payment rates will be $28.39 to administer single-dose vaccines. For a COVID-19 vaccine requiring a series of two or more doses, the initial dose administration payment rate will be $16.94, and $28.39 for the administration of the final dose in the series. These rates will be geographically adjusted and recognize the costs involved in administering the vaccine, including the additional resources involved with required public health reporting, conducting important outreach and patient education, and spending additional time with patients answering any questions they may have about the vaccine. CMS also announced that any COVID-19 vaccine that receives Food and Drug Administration authorization, either through an Emergency Use Authorization or licensed under a Biologics License Application, will be covered under Medicare as a preventive vaccine at no cost to beneficiaries. 

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