CMS Boosts Medicare Payment for Administering COVID-19 Vaccines
- March 19, 2021
Effective March 15, Medicare is nearly doubling to about $40 the amount the program pays on average for administering the COVID-19 vaccine, the Centers for Medicare & Medicaid Services (CMS) announced.
“At a time when vaccine supply is growing, CMS is supporting provider efforts to expand capacity and ensure that all Americans can be vaccinated against COVID-19 as soon as possible,” the agency said.
The exact payment rate depends on the type of entity administering the vaccine and also is adjusted geographically based on where the service is furnished.
CMS also is updating toolkits for providers, states, and insurers to reflect the new Medicare payment rates.