Medicare Advantage Payment Cuts Softened and Delayed by CMS
TL;DR Summary
The US government has announced a lower than expected 1.1% average cut of 2024 reimbursement rates for health insurers that offer coverage through the Medicare Advantage program, boosting shares of the market's largest players. The U.S. Centers for Medicare and Medicaid (CMS) said it expected total payments for next year to rise by 3.3% from 2023, or around $13.8 billion, up from its 1% initial estimate, and reduced drops on some costs resulting from rule changes. UnitedHealth Group Inc and Humana Inc shares were up more than 2% in after-market trade.
Topics:business#cms#health-insurers#healthcare#medicare-advantage#reimbursement-rates#unitedhealth-group
- US softens cut to Medicare Advantage 2024 payments Reuters
- Medicare Delays a Full Crackdown on Private Health Plans The New York Times
- CMS to raise Medicare Advantage pay rates by 3.3% in 2024; phase in risk adjustment changes FierceHealthcare
- Medicare Moderates Cut for Health Insurers in Final Rate Bloomberg
- CMS to phase in Medicare Advantage payment changes Axios
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