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 median net launch price for 154 new drugs increased 51% between 2022 and 2024, after accounting for inflation and discounts, according to a report released…
Headline
The AHA Oct. 23 recommended changes to the Centers for Medicare & Medicaid Services’ Wasteful and Inappropriate Services Reduction model to address…
Headline
The Centers for Medicare & Medicaid Services has released an operational guide for Medicare-enrolled providers and suppliers on the Wasteful and…
Headline
A report by the Department of Health and Human Services Office of the Inspector General found that many Medicare Advantage and Medicaid managed care plans…
Headline
Medicare open enrollment for 2026 began Oct. 15 and runs through Dec. 7. During the annual enrollment period, Medicare-eligible individuals can check their…
Headline
The AHA Oct. 3 responded to the Medicare Payment Advisory Commission’s recent analysis on the financial impacts of Medicare Advantage enrollment growth on…