59% of Medicare Advantage Enrollees Will Face No Premium Increase in 2016

CMS recently announced their 2016 projections for Medicare Advantage rates. Here are some key facts from the report:

·         59% of Medicare Advantage enrollees will face no premium increase in 2016.

·         The average Medicare Advantage premium will decrease by $0.31 in 2016, from $32.91 to $32.60.

·         65% of Medicare Advantage enrollees are enrolled in plans with four or more stars for 2016.

·         From 2010 to 2016, Medicare Advantageenrollment is projected to increase by over 50%.

·         The 17.4 million Medicare Advantage enrollees for 2016 represent 32% of the Medicare population.

·         The basic Medicare prescription drug plan premium in 2016 is projected to remain stable at $32.50/month.

Source: Centers for Medicare & Medicaid Services, September 21, 2015