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The Centers for Medicare & Medicaid Services (CMS) has released the calendar year (CY) 2024 advance notice for the Medicare Advantage (MA) and Part D prescription drug programs.
CMS estimates that MA revenue would increase by 1.03% compared to the prior year. Comments are due by 2 p.m. (PT) on March 3 and the final announcement will be published no later than April 3.
In the notice, CMS proposes revising the Part C risk adjustment model to include restructured condition categories. This would be done using the International Classification of Diseases-10 classification system and updated underlying fee-for-service data for 2018 diagnoses and 2019 expenditures.
Additionally, the notice covers Inflation Reduction Act (IRA) updates for Part D benefits for CY 2024. IRA provisions that take effect in 2025 and beyond will be addressed in future advance notice and rate announcements. CMS also proposes updates to the Part C and Part D star ratings.
More information is available in a CMS fact sheet.
