April 6, 2023
CMS issues CY 2024 Medicare Advantage, Part D updates
On April 5, the Centers for Medicare & Medicaid Services (CMS) issued the Contract Year (CY) 2024 Medicare Advantage (MA) and Part D Final Rule. The final rule includes several updates to the MA and Part D programs, including adding new requirements to address potentially misleading advertising, improving prior authorization processes, and increasing access to mental health. The rule also adjusts Star Ratings measures, including finalizing a new health equity index (HEI) reward.
Meena Seshamani, director of the Center for Medicare, said, "This rule takes unprecedented steps to ensure appropriate guardrails are in place to protect beneficiaries from concerns such as barriers to care due to prior authorization and misleading marketing practices, to improved access to behavioral health, and to advance health equity."
"The Biden-Harris Administration has made exceptionally clear that one of its top priorities is protecting and strengthening Medicare," said CMS Administrator Chiquita Brooks-LaSure. "With this final rule, CMS is putting in place new safeguards that make it easier for people with Medicare to access the benefits and services they are entitled to, while also strengthening the Medicare Advantage and Part D programs."
The final rule is one in a series of policies coming from CMS that impact the MA program, including proposals to recover improper payments, improve payment accuracy, and update prior authorization processes. CMS late last week released the MA Rate Announcement for 2024 and is expected to soon issue a final rule to create an electronic prior authorization process.
Additional information is also available in the attached Tax Alert.
CY 2024 Medicare Advantage, Part D updates