CMS: Medicare Advantage premiums to decrease by nearly 8% next year

The Centers for Medicare & Medicaid Services (CMS) said the projected average premium in MA for 2023 is $18, down from $19.52 in 2022. In addition, the agency said that more than 1,200 plans will participate in its Value-Based Insurance Design model in the coming year, a program that enables plans to test customized benefits that are designed to better manage diseases and address members’ social needs.

CMS previously announced that average premiums in Part D are also set to decline, decreasing by about 2% to $31.50 next...