The Centers for Medicare & Medicaid Services has set a timetable for reviewing medication formularies of private health plans taking part in the new Medicare prescription drug benefit.
CMS plans to rely on 145 pharmacists to complete its analysis. It will review each plan’s formulary to ensure it includes medications in the following six categories: antidepressants, antipsychotics, anticonvulsives, HIV medications, antineoplasms, and immunosuppressants. CMS plans to complete the process of formulary reviews by May 18, it announced last week.
CMS also will release new guidance on how health plans will transition certain dual eligible beneficiaries, including some nursing home residents, who will receive drug coverage from Medicare under the new drug law. CMS has plans to complete the dual eligible transition reviews by June 6.
The new Medicare drug benefit fully kicks in Jan. 1.
