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FOR
IMMEDIATE RELEASE
February 1, 2023
Contact:
CMS Media Relations
(202) 690-6145 | CMS Media Inquiries
Today,
the Centers for Medicare & Medicaid Services (CMS) released the
Calendar Year (CY) 2024 Advance Notice for the Medicare Advantage (MA)
and Part D Prescription Drug Programs that would update payment
policies for these programs. The Advance Notice builds on a proposed rule that CMS released in
December 2022 that would, if finalized, strengthen beneficiary
protections for the millions of people who rely on Medicare Advantage
and Medicare Part D prescription drug coverage.
In
addition to the payment updates, the Advance Notice outlines several
updates and improvements made by the Inflation Reduction Act (IRA) to
the Part D program that will go into effect or be in effect on January
1, 2024. These include the continuation of reduced cost-sharing for
insulin and eliminated cost-sharing for recommended, preventive
vaccines, as well as the elimination of cost-sharing for Part D
prescription drugs in the catastrophic phase and expansion of
eligibility for full cost-sharing and premium subsidies under the
Low-Income Subsidy program. Through these changes to the Part D program
for 2024, the new drug law provides meaningful financial relief for
millions of people with Medicare by improving access to affordable
treatments and strengthening the Medicare program both now and in the
longrun.
“Medicare
Advantage and Part D prescription drug plans are essential parts of
CMS’s vision that all parts of Medicare are working to provide more
equitable, high quality, and person-centered care that is affordable
and sustainable for the people we serve,” said CMS Administrator
Chiquita Brooks-LaSure. “The Advance Notice will maintain strong value
and choice for people with Medicare, continue our efforts to improve
our programs, and fulfill our mandate to implement the Inflation
Reduction Act effectively and efficiently.”
The
Advance Notice proposes updates to MA payment growth rates and changes
to the MA and Part D payment methodologies. These proposals include
technical updates to the MA risk adjustment model to keep the model up
to date and improve payment accuracy, such as by fully transitioning to
the Internal Classification of Diseases (ICD)-10 system, which has been
in use since 2015. In addition, CMS is seeking comment on MA quality
measurement under Part C Star Ratings as part of CMS’s overarching
efforts to align quality measures across federal programs and with
private payers, reduce burden, and improve the effectiveness of quality
programs.
“The
commonsense proposals in the Advance Notice, coupled with the proposals
in the MA and Part D rule released in December, ensure these important
programs continue to meet the health care needs of all beneficiaries
while improving the quality and long-term stability of the Medicare
program,” said CMS Deputy Administrator and Director of the Center for
Medicare Meena Seshamani, MD, Ph.D.
The
Advance Notice is open for public comment, and comments must be
submitted by March 3, 2023. The Medicare Advantage and Part D payment
policies for 2024 will be finalized in the CY 2024 Rate Announcement,
which will be published no later than April 3, 2023.
The
2024 Advance Notice may be viewed by going to: https://www.cms.gov/Medicare/Health-Plans/MedicareAdvtgSpecRateStats/Announcements-and-Documents
and selecting “2024 Advance Notice.”
A
fact sheet discussing the provisions of the Advance Notice can be
viewed here: https://www.cms.gov/newsroom/fact-sheets/2024-medicare-advantage-and-part-d-advance-notice-fact-sheet
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