Medicare Advantage rates will increase by 2.09% next year, in line with expectations, the Centers for Medicare and Medicaid Services announced in an announcement published Wednesday.
The advance notice includes a number of provisions, such as Medicare Advantage risk-adjusted modifications and changes to star-rated plans for Medicare Advantage and Medicare Part D. CMS also provides a plan to implement the plans. provisions from the Inflation Reduction Act of 2022.
The law eliminates cost-sharing under Part D when beneficiaries reach a “catastrophic” threshold for their pharmaceutical costs, up to $7,400 this year. The act also expands eligibility for Part D benefits to low-income earners. In addition, the Inflation Reduction Act excludes vaccination and insulin costs from the plan’s deductible, limits insulin costs to $35 a month, and limits base premium increases to 6% per month. year.
CMS described these pending policies as part of a broader regulatory agenda for Medicare Advantage. The agency issued a proposed rule in December to increase oversight of Medicare Advantage marketing and revise the star rating program.
“The sensible recommendations in the advance notice, along with the recommendations in the MA and Part D rules introduced in December, ensure these critical programs continue to meet the health care needs of all. beneficiaries while improving the quality and long-term stability of the Medicare program,” said CMS Deputy Administrator and Medicare Center Director, Dr. Meena Seshamani in a news release.
CMS will receive comments on the announcement until March 3 and plan to publish the final rate by April 3.
