MedPage Today: More $$$ Going to Medicare Advantage Plans
WASHINGTON — Payments to Medicare Advantage plans will increase by 3.3% in 2014, Medicare officials said late Monday.
Officials at the Centers for Medicare and Medicaid Services (CMS) based the payment increase on the assumption that Congress will override scheduled cuts in physician reimbursements for an 11th consecutive year, the agency said.
“The policies announced today further the agency’s goal of improving payment accuracy in all our programs, while at the same time ensuring program stability and preserving beneficiary choice,” Jonathan Blum, PhD, CMS’ acting principal deputy administrator, said in a press release.
Unless Congress acts to forestall the cuts under Medicare’s sustainable growth rate (SGR) formula, which determines doctor reimbursements under the program, physician payments in Medicare will drop roughly 25% next year.
Read the entire article here!