The Medicare 2024 Medicare Advantage and Part D Final Rule, announced by the Centers for Medicare & Medicaid Services (CMS) in April 2023, outlines a range of changes to Medicare Advantage and Part D programs. The changes are designed to promote access to high-quality care, lower costs, and improve health outcomes for Medicare beneficiaries.
Some of the key changes outlined in the 2024 Medicare Advantage and Part D Final Rule include:
Expanding telehealth services: The Medicare 2024 final rule expands coverage for telehealth services, allowing Medicare Advantage plans to offer a broader range of telehealth services to beneficiaries.
Promoting value-based care: The Medicare 2024 final rule promotes value-based care by allowing Medicare Advantage plans to offer more benefits and incentives to members who use high-value services and providers.
Increasing transparency: The Medicare 2024 final rule requires Medicare Advantage plans and Part D sponsors to provide more transparent information about drug prices and out-of-pocket costs to beneficiaries.
Enhancing drug pricing negotiations: The Medicare 2024 final rule allows Medicare Advantage plans and Part D sponsors to negotiate drug prices directly with manufacturers, which may help to lower drug costs for beneficiaries.
Addressing social determinants of health: The Medicare 2024 final rule allows Medicare Advantage plans to offer more benefits and services that address social determinants of health, such as food insecurity and housing instability.
These changes are expected to have a significant impact on the Medicare Advantage and Part D programs, and on the millions of beneficiaries who rely on these programs for their healthcare needs. CMS encourages beneficiaries to review their coverage options during the upcoming open enrollment period to ensure that they are getting the best possible care and coverage for their needs.