CMS Announces New Details About 2020 Medicare Advantage Plans

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.

Click here to learn more about the changes coming to Medicare Advantage.