CMS: Medicare Advantage, drug plan premiums decline for 2023
The Centers for Medicare & Medicaid Services yesterday released premium and cost-sharing information for Medicare Advantage and Part D prescription drug plans for the 2023 calendar year.
CMS projects the average monthly premium for MA plans will fall by $1.52 to $18, while the average monthly premium for a basic Medicare Part D prescription drug plan will fall by 58 cents to $31.50. Among other changes this year, the Inflation Reduction Act will limit monthly cost sharing for insulin products to $35 and reduce costs for adult vaccines.
Open enrollment for MA and Part D begins Oct. 15.
Related News Articles
Headline
The Centers for Medicare & Medicaid Services Nov. 25 announced lower prices for 15 Medicare Part D drugs selected for the second cycle of negotiations…
Headline
The Centers for Medicare & Medicaid Services Nov. 25 issued a proposed rule for policies governing the Medicare Advantage and Part D programs for 2027. CMS…
Headline
The Centers for Medicare & Medicaid Services released an updated notice Nov. 20 on the processing of Medicare provider claims impacted by the government…
Headline
The Medicare Part A deductible for inpatient hospital services will increase by $60 in calendar year 2026 to $1,736, the Centers for Medicare & Medicaid…
Headline
The 43-day government shutdown ended last night when President Trump signed a funding bill into law, hours after the House passed the measure by a 222-209 vote…
Headline
The White House announced today that it reached agreements with Eli Lilly and Novo Nordisk to align their drug prices with the lowest paid by other developed…