On April 4, the Centers for Medicare and Medicaid Services (CMS) released the final updates to the Medicare Advantage and Part D programs for 2017. An article from Bloomberg on the same day summarizes the impacts of the increase across the industry.
The U.S. is raising payments to the insurers by 0.85 percent on average, according to a statement Monday from the Centers for Medicare and Medicaid Services, down from the 1.35 percent boost proposed in February. Payments to individual insurers can vary, because CMS gives individual plans quality bonuses and premiums are adjusted based on where enrollees live and how sick they are.
The smaller increase gives less of an increase to top providers of Medicare Advantage plans such as UnitedHealth Group Inc. and Humana Inc. Other publicly traded insurers that are big providers of the private Medicare plans include Aetna Inc., Centene Corp., and WellCare Health Plans Inc. The U.S. raised rates by about 1.25 percent for this year, after a cut of about 4 percent in 2015. Medicare Advantage plans are run by private health insurers, and funded and regulated by the government.
About CSG Actuarial
CSG Actuarial monitors insurance markets to provide the most up-to-date competitive intelligence in the industry. CSG’s Market Advisor™ Quoting Tools include premium rate and underwriting information for more than 300 companies.
Call 855-861-8776 or email firstname.lastname@example.org to learn more.