Medicare COVID-19 Vaccine Shot Payment Increase
As of March 15, 2021, CMS has updated the Medicare payment rates for COVID-19 vaccine administration. The new Medicare payment rate for administering a COVID-19 vaccine will be approximately $40 to administer each vaccine dose.
For any COVID-19 vaccine administration services furnished before March 15, 2021, the Medicare payment rate for a single-dose vaccine or the final dose in a series is $28.39. ($16.94 for the first dose and $28.39 for the final dose)
To stay updated on billing codes, payment allowances, and effective dates, use CMS free resource here: https://www.cms.gov/medicare/medicare-part-b-drug-average-sales-price/covid-19-vaccines-and-monoclonal-antibodies.