Medicare Increases Reimbursement for COVID-19 Vaccine

The Biden-Harris administration recently announced Medicare has doubled payment for administration of the COVID-19 vaccine. This increase includes both the Pfizer and Moderna vaccines which require two doses. Reimbursement will now be $40 per administration. The change has already gone into effect.

The announcement maintains the zero out-of-pocket cost policy for Medicare patients, protecting their access to vaccination while ensuring physicians are properly compensated. The updated Medicare payment is reflected in the CPT Editorial Panel with the new CPT code 99072 and is now bundled into the new COVID immunization administration payments.

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