Medicare, Medicaid will cover costs of future COVID-19 vaccine under new policy

In an official announcement on Wednesday, CMS said Medicare beneficiaries will receive any FDA-approved coronavirus vaccine for free. The new policy calls for providers to receive the vaccine at no cost and for Medicare to reimburse for the cost of administering the injection. Additionally, the policy calls for most private health insurance plans as well as state Medicaid agencies to cover a vaccine without cost sharing—at least while the pandemic is ongoing. After the public health emergency, depending on the population, states may have to “evaluate cost sharing policies and may have to submit state plan amendments if updates are needed,” the rule states. The Provider Relief Fund, meanwhile, will allow reimbursement for administering a COVID-19 vaccine to uninsured recipients. Earlier in October, the Trump administration said it would work with CVS Health and Walgreens to help distribute an eventual vaccine to nursing homes and other long-term care facilities, with no out-of-pocket costs.