HealthExec February 2, 2023
The Centers for Medicare and Medicaid Services (CMS) published its payment updates for Medicare Advantage (MA) plans and Part D prescription drug coverage for 2024. The advanced rule, published Feb. 1, builds on a proposed rule published by CMS in late 2022.
The plan, if finalized, increases payments for MA plans by 2.09%. The notice includes changes to the risk adjustment model. CMS proposed adjusting 2024 star ratings -1.24%, which means the expected average change in revenue for 2024 is 1.03%.
The advanced notice also implements directives from the Inflation Reduction Act, which was signed into law in 2022 and included several healthcare provisions. Namely, the law allowed Medicare to negotiate for drug prices for the first time in history....
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