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. 

Related News Articles

Headline
The Centers for Medicare & Medicaid Services April 4 finalized changes to the Medicare Advantage and prescription drug programs for contract year 2025…
Headline
The Centers for Medicare & Medicaid Services April 1 finalized proposed changes to Medicare Advantage plan capitation rates and Part C and Part D…
Headline
The AHA March 29 released its Health Care Plan Accountability Update, covering the latest developments in Medicare Advantage, legislation and regulation of…
Headline
People enrolled in Medicare Advantage are more likely than those in traditional Medicare to report delays in care due to needed insurance approvals, according…
Headline
Andrea Preisler, AHA’s senior associate director of administrative simplification policy, explains why the recent final rule requiring Medicare Advantage,…
Headline
The Centers for Medicare & Medicaid Services yesterday released FAQs clarifying coverage criteria and utilization management requirements for Medicare…