Initial reaction from the insurers have been positive to the proposals of the Centers for Medicare & Medicaid Services (CMS) which could see them realize nearly 8% rate increase in Medicare Advantage (MA) for 2023. America’s Health Insurance Plans (AHIP), representing around 1,300 companies that offer health insurance to more than 200 million Americans, has said that it backs discussion along these lines.
- ‘28M people opt for MA plans’: Matt Eyles, President and CEO of AHIP, while welcoming the proposals under Advance Notice for MA and Medicare Part D, said, “Over 28 million Americans—44% of Medicare beneficiaries—choose Medicare Advantage plans because they offer better services, better access to care, and better value than original Medicare. This includes nearly half of all racial/ethnic minorities eligible for Medicare, he said.
- ‘MA monthly premium dropped to $19 this year’: Eyles also reminded that for 2022, the average Medicare Advantage monthly premium dropped to $19, a decrease of more than 10% since 2021. “We agree that MA plans play an essential role in improving health equity and addressing the social determinants of health that impact millions of seniors and people with disabilities. We support CMS soliciting input on ways to advance these important goals.”
- MA enjoys bipartisan support: Since the Medicare Advantage provides senior citizen and people with disabilities easy access to affordable and high-quality healthcare, it enjoys strong bipartisan support. Eyles said that they will continue to review the 2023 rate notice and look forward to providing constructive feedback to CMS during the comment period.
- Proposals were ‘much needed’: Welcoming the proposals, senior vice president of the office of policy and representation for the Blue Cross Blue Shield Association, Justine Handelman, said that the proposals were ‘much-needed.’ “Today’s proposed updates will help provide much-needed stability for the more than 28 million Medicare Advantage members across the country,” Handelman said in a statement.
- CMS to announce final rates by April 4: Insurance industry groups have said that they continue to review the provisions put out by the CMS and will respond with detailed reactions later on. Comments on the proposed regulations can be made till March 4 while the final rate set to be announced by April 4.