CMS increases COVID-19 vaccine payments

CMS recently boosted Medicare payments for COVID-19 vaccines as part of an effort to accelerate vaccinations.

Effective March 15, CMS increased payment from $28 to $40 for administration of single-dose vaccines and from $45 to $80 for administration of two-dose vaccines, HealthLeaders reported. The exact payment rate depends on the type of entity furnishing the service and will be adjusted for geographic location.

Provider organizations receive COVID-19 vaccines for free from the federal government and can only bill for administration. Organizations cannot charge Medicare or Medicaid beneficiaries for COVID-19 vaccine administration. Most private health insurers are required to provide the vaccination to their beneficiaries with no out-of-pocket costs.