CMS To Give Medicare Advantage Plans A Pay Boost Along With More Flexibility
"These changes to the model better reflect costs and improve the financing for the care of beneficiaries with multiple conditions," said CMS Administrator Seema Verma.
U.S. Government Boosts 2020 Medicare Payments To Insurers By 2.53 Percent
The U.S. government on Monday said it would increase by 2.53 percent on average 2020 payments to the health insurers that manage Medicare Advantage insurance plans for seniors and the disabled, a reflection of a new estimate on medical cost growth. The rate, which affects how much insurers charge for monthly healthcare premiums, plan benefits and, ultimately, how much they profit, represents an increase over the 1.59 percent increase proposed by the Centers for Medicare & Medicaid Services (CMS) in February. (Humer, 4/1)
CMS Finalizes Medicare Advantage Pay Raise, Ups Encounter Data Use
Medicare Advantage plans are getting a pay raise and more flexibility to tailor benefits for chronically ill patients next year, the CMS said Monday. But Advantage plans' payments will also be based on a higher percentage of patient "encounter data," a change that health insurers have fought hard to avoid. The CMS on Monday finalized a rule giving Medicare Advantage plans a 2.53% pay raise in 2020. The agency had initially floated giving plans a 1.59% pay bump for next year. The final rate is less than the 3.4% raise Advantage plans received for 2019, which was one of the biggest pay raises plans have received in years. (Livingston, 4/1)