The Biden administration on Friday revamped its proposed changes to the way that payments are determined for private Medicare managed care plans next year.
The 2024 final notice for the Medicare Advantage and Part D prescription drug programs anticipates the Centers for Medicare & Medicaid Services will increase payments to MA plans, on average, by $13.8 billion, or 3.32% from 2023 to 2024. The original rate notice proposal, set to begin Jan. 1, 2024, was expected to increase plan payments by an average of roughly 1%, or $4 billion.
The final rule will also phase in over three years ...
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