HealthExec April 3, 2023
The Centers for Medicare and Medicaid Services (CMS) finalized its 2024 Medicare Advantage (MA) payment rates, giving MA plans a 3.3% rate increase next year.
The final rate increase is higher than in the proposed rule, which came out in early February. According to CMS, MA plans will see an average payment increase of 3.32% from 2023 to 2024, worth approximately $13.8 billion in increases.
“Medicare should be providing equitable, high-quality affordable care that will be available for our children and grandchildren,” CMS Administrator Chiquita Brooks-LaSure said in a statement. “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...
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