CMS finalizes Medicare Advantage payment rule for 2024

April 17, 2023

The Centers for Medicare and Medicaid Services (CMS) recently released the final 2024 Medicare Advantage and Part D payment rules.

The final payment rule includes a 3.32% payment increase for Medicare Advantage plans, instead of the originally proposed 1.03% increase. This represents an approximate $13.8 billion increase for Medicare Advantage plans next year.

CMS is also phasing-in the risk adjustment and ICD-10 coding changes over three years, rather than making a wholesale switch in 2024 as had originally been proposed.

These changes are consistent with many of the recommendations the California Medical Association advocated for during the rule’s public comment period.

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