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CMS proposes 1.84% hike in Medicare Advantage payments for '19 plan year

The Centers for Medicare and Medicaid Services proposed a 1.84% rate increase for payments to insurers for offering private Medicare plans for the 2019 plan year.

The payment adjustment sets the threshold for how much insurers are paid, the premiums charged to consumers and affects the mix of benefits offered in plans. The plans, known as Medicare Advantage, are a bundling of Medicare offerings heavily subsidized by the government.

Insurers have until March 5 to comment on the proposed rates. CMS expects to finalize the rate by April 2.