Medicare Advantage Rates and Reforms: Latest Updates.
TL;DR Summary
The Centers for Medicare & Medicaid Services (CMS) has finalized a 3.3% increase in payment rates for Medicare Advantage plans for 2024, which is higher than the 1.1% hike proposed in February. The revised rates will result in a $13.8B increase in payments for MA plans next year. Health insurers operating in the MA market include Humana, Centene, UnitedHealth, CVS Health, Cigna, Elevance, Clover Health, and Alignment Healthcare. CMS also announced the recoupment of overpayments made to Medicare Advantage plans starting this year to protect the fiscal sustainability of Medicare.
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- CMS to raise Medicare Advantage pay rates by 3.3% in 2024; phase in risk adjustment changes FierceHealthcare
- 'Bending the Knee' to Insurance Lobby, Biden Admin Delays Medicare Advantage Reforms Common Dreams
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