Medicare Payment for Life-Saving COVID-19 Vaccine has been increased.

Centers for Medicare & Medicaid Services (CMS) increased the Medicare payment amount for administering the COVID-19 vaccine.

Effective for COVID-19 vaccines administered on or after March 15, 2021, the national average payment rate for physicians, hospitals, pharmacies, and many other immunizers will be $40 to administer each dose of a COVID-19 vaccine. This represents an increase from approximately $28 to $40 for the administration of single-dose vaccines and an increase from approximately $45 to $80 for the administration of COVID-19 vaccines requiring two doses. The exact payment rate for the administration of each dose of a COVID-19 vaccine depends on the type of entity that furnishes the service and is geographically adjusted based on where the service is furnished.