CMS announced today that most Medicare Advantage beneficiaries will enjoy lower premiums and expanded benefits next year. Among the facts released today, CMS highlighted:
- The Medicare Advantage average monthly plan premium is expected to decrease 14 percent to $23.00 (estimated) in 2020 from an average of $26.87 in 2019.
- Beneficiaries will have more plan choices, with about 1,200 more Medicare Advantage plans operating in 2020 than in 2018.
- Enrollment is projected to increase to an all-time high of 24.4 million beneficiaries from the current enrollment of 22.2 million, out of approximately 60 million people currently enrolled in Medicare.
- The continued decline in Medicare Advantage and Part D premiums over the past three years is estimated to save taxpayers nearly $6 billion in the form of lower Medicare premium subsidies.