Lexology April 5, 2023
On March 31, 2023, the US Centers for Medicare & Medicaid Services (CMS) issued its Announcement of Calendar Year (CY) 2024 Medicare Advantage (MA) Capitation Rates and Part C and Part D Payment Policies, otherwise known as the Rate Announcement (press release; fact sheet). The Rate Announcement is released on an annual basis and includes updates to the capitation and risk adjustment methodologies used to calculate payments to MA plans, as well as other payment policies that impact Part D. In one key decision, CMS finalized a proposal to significantly revise the Medicare Advantage risk adjustment model, which had been the subject of extensive commentary from stakeholders. However, CMS said it would phase in the new model over three years....
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