On Monday the Centers for Medicare and Medicaid Services (CMS) announced that Medicare Advantage payments would be increased by 3.3 percent rather than a recently proposed reduction of 2.3 percent. This 5.6 percent swing in payments is fantastic news for the roughly 14 million Americans currently on Medicare Advantage plans as well as doctors and the Insurance carriers.
“The policies announced today further the agency’s goal of improving payment accuracy in all our programs, while at the same time ensuring program stability and preserving beneficiary choice,” said Jonathan Blum, CMS acting principal deputy administrator.
We have already seen various press releases from Insurance carriers citing this CMS announcement will likely protect many of the plans currently offered this year and increase the overall stability of the plans. If you’d like to read more about this announcement, please check out this link here from our friends at Agent Pipeline. You can also read the press release directly from CMS here.