Medicare Advantage premiums to inch lower in 2016 as enrollment climbs, CMS says
The average premium will fall to $32.60 a month.
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Medicare Advantage premiums will fall by 31 cents in 2016, the Centers for Medicare and Medicaid Services said on Monday amid surging enrollment to the privately managed program.
According to CMS, the average premium will fall to $32.60 a month. The agency also said it expects Medicare Advantage plans to add supplemental benefits for dental, vision and hearing.
Since the Affordable Care Act passed in 2016, premiums have fallen a projected 50 percent.
[Also: CMS spent $103 billion on Medicare Part D in 2013, $2.5 billion on Nexium]
CMS also said Medicare's Part D prescription drug plan premiums will also hold flat in 2016, averaging about $32.50 per month.
CMS said the program has saved nearly $1,800 per beneficiary as a result of discounts and rebates offered to seniors as the coverage gap, known as the "donut hole" inches closer to closing.
"Seniors and people with disabilities continue to experience stable premiums in Medicare health and drug plans while benefiting from a transparent and competitive marketplace," said Sean Cavanaugh, CMS deputy administrator and director of the Center for Medicare, in a statement. "Medicare Advantage and prescription drug plans remain affordable and provide high quality care."
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