CMS releases details on Medicare Advantage, drug plans for 2024
The Centers for Medicare & Medicaid Services Sept. 26 released premium and cost-sharing information for Medicare Advantage and Part D prescription drug plans for the 2024 calendar year.
CMS projects the average monthly premium for MA plans will increase by 64 cents to $18.50 while the average monthly premium for a basic Medicare Part D prescription drug plan will increase by $2.41 to $34.50, as previously announced. The Inflation Reduction Act will continue to 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.
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