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CMS Releases Updated State Phased-Down Billing Guide

On March 11, 2021, the Centers for Medicare & Medicaid Services (CMS) released the updated State Phased-Down (SPD) Billing Guide. The Medicare Prescription Drug Improvement and Modernization Act of 2003 (Medicare Modernization Act or MMA) established the Medicare Part D prescription drug benefit. As a result, Medicare became the primary payer for most prescription drugs for full-benefit dually eligible individuals.