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CMS issues 2% MA rate hike for 2024

February 3, 2023

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Medicare Advantage plan rates will increase by 2.09% next year, largely in line with analyst expectations but likely lower than payers had hoped.

The 2024 Medicare Advantage and Part D Advance Notice released Wednesday also includes some technical changes to the risk adjustment model, such as using ICD-10 codes instead of ICD-9, making it more up to date and more predictable, said CMS Deputy Administrator and Director of the Center for Medicare Meena Seshamani in a Wednesday call with reporters.

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