America's Benefit Specialist May 2023

MEDICARE MATTERS

“Negotiation is a powerful tool that will drive drug compa nies to innovate to stay competitive, fostering the develop ment of new therapies and delivery methods for the treat ments people need,” said Meena Seshamani, M.D., Ph.D., CMS deputy administrator and director of the Center for Medicare. “This initial guidance is the next step in the extensive en gagement CMS has had to date with interested parties, and we look forward to continuing to receive comment on key policy areas and engage with the public as we implement the Negotiation Program.” This initial guidance is one of a number of steps CMS laid out in the Medicare Drug Price Negotiation Program timeline for the first year of negotiation. The initial program guidance details the requirements and procedures for implementing the new Negotiation Program for the first set of negotiations, which will occur during 2023 and 2024 and result in prices effective in 2026. Key dates for implementation include: • By September 1, 2023, CMS will publish the first 10 Medi care Part D drugs selected for initial price applicability year 2026 under the Medicare Drug Price Negotiation Program. • The negotiated maximum fair prices for these drugs will be published by September 1, 2024, and prices will be in effect starting January 1, 2026. • In future years, CMS will select for negotiation up to 15 more Part D drugs for 2027, up to 15 more Part B or Part D drugs for 2028, and up to 20 more Part B or Part D drugs for each year after that, as outlined in the Inflation Reduc tion Act. Michelle Dudleston , head of strategy and project manage ment office. Dudleston brings 19 years of experience from Pacific Life’s life insurance division, holding roles in innova tion, strategy and delivery, and most recently leading stra tegic transformation for distribution, customer experience and operations. Gary Godin , vice president of operations and customer experience. Godin has more than 20 years of experience in employee benefits, including health and retirement. He joins Pacific Life after spending significant time at Unum and New York Life Group Benefits Solutions, where he led product strategy, operations and claims delivery, and road map execution. Tiffany Gregath , CFP, vice president of marketing. Gregath brings 20 years of experience from Pacific Life building and Continued from page 19

CONFERENCES

May 2-3 Alabama Chapter Annual Conference and Medicare Summit Vestavia, AL For more information, contact paige@paigephillips.net July 10-11 Ms. Medicare 2023 Cleveland, OH www.msmedicare.org July 13 Central Illinois Chapter Annual Medicare Summit East Peoria, IL For more information, contact info@ciahu.us July 17-19 NABIP Florida Benefits and Medicare Symposium Orlando, FL www.nabipfl.org August 15 NABIP Maryland Medicare Summit Baltimore, MD For more information, contact mdahu@gmail.com leading high-functioning teams focused on branding and marketing of life insurance, annuities, and mutual funds. Rob Mulligan, vice president of product and underwriting. Mulligan was previously at Renaissance Life and Health Insur ance Company of America, where he was president and CEO leading the development and evolution of the company from a single line, individual dental product carrier, to a multi-line group and individual workplace benefits carrier. John Myers , vice president of distribution. Myers was previ ously with Aflac, where he was senior vice president, Premier Broker Innovation & Partnerships and was responsible for lead ing teams that drove strategies, relationships, and experiences among premier partners and clients. His 25 years of experience also include 17 years in management consulting, much of it focused on the healthcare and insurance industries. PEOPLE ON THE MOVE

32 ABS | benefitspecialistmagazine.com