AHIP Statement: Average 2023 Medicare Advantage Premiums Drop Nearly 8% For 2023

WASHINGTON, Sept. 30 (TNSres) -- America's Health Insurance Plans issued the following news release on Sept. 29, 2022:

Matt Eyles, President and CEO of AHIP, issued this statement as the Centers for Medicare & Medicaid Services (CMS) announced that the projected average premium for 2023 Medicare Advantage plans is $18 per month, a decline of nearly 8% from the 2022 average premium of $19.52:

"More than 29 million seniors and people with disabilities choose Medicare Advantage because it delivers better services, better access to care, and better value. Today's announcement from CMS is a further demonstration of that value. Even as average premiums continue to decline, Medicare Advantage offers benefits well beyond those in original Medicare does not, such as a cap on out-of-pocket costs; integrated vision, hearing, and dental benefits; and comprehensive prescription drug coverage.

"These lower premiums, in addition to the lower average basic monthly premium for Part D plans that was previously announced, mean that health insurance providers are doing even more to improve affordability and access for Americans.

"Medicare Advantage plans provide a range of services beyond the four walls of the doctor's office. For example, health insurance providers work with community partners to address a variety of challenges to improve health equity, including food insecurity, lack of transportation, and social isolation. With nearly half of all eligible racial and ethnic minorities choosing Medicare Advantage, the program is an essential partner for improving health in historically underinvested or underrepresented communities across the country.

"Medicare Advantage is a prime example of the government and free market working together to deliver lower costs, more choices, and better outcomes for the American people. AHIP will continue to work with the Administration, Congress, and other stakeholders to ensure Medicare Advantage remains strong and vibrant for the millions of Americans who depend on it for good health."

Read about the value of Medicare Advantage compared with original Medicare (https://www.ahip.org/resources/value-of-medicare-advantage-compared-with-original-medicare).

Read how Medicare Advantage provides better services, better care, and better value (https://www.ahip.org/resources/providing-better-services-better-care-and-better-value).

Read the 7 things you need to know about Medicare Advantage (https://www.ahip.org/resources/7-things-you-need-to-know-about-medicare-advantage).

Click here (https://www.ahip.org/issues/medicare-advantage) for more AHIP Medicare Advantage resources.

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Original text here: https://www.ahip.org/news/press-releases/ahip-statement-average-2023-medicare-advantage-premiums-drop-nearly-8-for-2023