Medicare Advantage plans are in line for a 2.09% rate increase in 2024, the Centers for Medicare & Medicaid Services said in a notice on Wednesday. The adjustment is driven by growth in Medicare fee-for-service costs. But analysts said the bump is offset by other policy changes that would translate into a net reduction of 2.27%. The notice comes as private Medicare plans continue to draw enrollees away from traditional Medicare with promises of capped out-of-pocket costs, vision and dental benefits, and perks like fitness classes.
Read the full article: Medicare Advantage Plans Could See Net Rate Cut in 2024 //
Source: https://www.axios.com/2023/02/02/medicare-advantage-plans-2-percent-rate-hike