CMS: Average Medicare Advantage, Part D premiums stable in 2016

The Centers for Medicare & Medicaid Services today released premium and cost information for Medicare Advantage and Part D prescription drug plans for the 2016 calendar year. The average Medicare Advantage premium will decrease by 31 cents to $32.60, while the average monthly premium for a basic Medicare Part D prescription drug plan will remain stable at about $32.50, the agency estimates. The average number of plan choices per beneficiary is consistent with 2015, CMS said. It projects Medicare Advantage enrollment will climb for the sixth consecutive year in 2016 to 17.4 million, or 32% of the Medicare population. About 65% of Medicare Advantage enrollees are currently enrolled in plans with four or more stars, up from 17% in 2009, the agency said.