Medicare Won't Cover Cost of Coronavirus Vaccine
An article published Monday in The Wall Street Journal pointed out that in the likely case that a vaccine candidate is granted Emergency Use Authorization (EUA) by the Food and Drug Administration (FDA), it won't be covered by Medicare. This is because the massive aid program does not cover the costs of products with EUAs.
In March, the Coronavirus Aid, Relief and Economic Security (CARES) Act was passed into law; this guaranteed free-of-charge coronavirus vaccines. But this can only apply to everyone if a vaccine gets standard FDA approval.
As its name suggests, the EUA designation is used as a fast channel for drugs and/or vaccines needed in a crisis situation, such as that presented by the coronavirus pandemic. Due to the typically quick nature of EUA approval, a medicine or vaccine can come to market without the rigorous review standards of a traditional FDA nod.
Source Fool.com
