04/04/2023    

MEDICARE NEWS

CMS to Raise Medicare Advantage Pay Rates by 3.3% in 2024

 

The Biden administration finalized a proposal to raise Medicare Advantage payments by 3.32% in 2024, slightly above the 1% raise that it proposed. The final payment rule released Friday comes after an intense lobbying campaign from insurers who claimed that the original advance notice released in February would amount to a cut to plans. The agency also finalized changes to the MA risk adjustment model, but will instead phase the changes in over three years as opposed to implementation next year.

 

Administration officials said that the goal of the rule is to help ensure pay is accurate to plans in the popular program. “Paying Medicare Advantage plans more accurately for the care they provide is how we ensure that people enrolled in Medicare Advantage, especially populations with the highest health disparities and people in underserved communities, can continue to access the care they deserve,” said CMS Administrator Chiquita Brooks-LaSure in a statement.

 

Source: Robert King, Fierce Healthcare [3/31/23]