Medicare Advantage premiums hit three-year low

Medicare Advantage plans’ average monthly premium will be $28 next year, marking the lowest charges in the last three years, according to the CMS.

On average, Medicare Advantage premiums will decrease by 6% from $29.81 per month in 2018. Nearly 83% of Medicare Advantage enrollees who stay in their current plan will have the same or lower premium in 2019, according to a report released Friday.

“The steps that the Trump administration has taken to improve and drive competition in Medicare Advantage means more savings, more benefits and lower costs for seniors,” CMS Administrator Seema Verma said in a statement.

Premiums are decreasing as the number of coverage options increase. There will 600 additional MA plans next year. More...