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2017 Open Enrollment for Medicare health and drug plans begins on October 15, 2016 and ends on December 7.
Sept. 26, 2016 – Good news for many seniors: Medicare Advantage premiums will remain stable and more enrollees will have access to higher quality plans in 2017, according to word last week from the Centers for Medicare & Medicaid Services (CMS).
Today’s announcement comes as CMS releases the premiums and costs for Medicare health and drug plans for the 2017 calendar year.
For the seventh straight year, enrollment is projected to increase to a new all-time high.
In addition, CMS released today updated information that shows that millions of seniors and people with disabilities with Medicare continue to enjoy prescription drug discounts and affordable benefits as a result of the Affordable Care Act.
CMS estimates that the average Medicare Advantage monthly premium will decrease by $1.19 (about 4 percent) in 2017, from $32.59 on average in 2016 to $31.40. This would be 13 percent lower than the average Medicare Advantage premium prior to passage of the Affordable Care Act.
The majority of Medicare Advantage enrollees (67 percent) will experience no premium increase.
“Medicare Advantage and the prescription drug benefit continue to be a great option for seniors and people living with disabilities,” said Andy Slavitt, CMS Acting Administrator. “Medicare enrollees will continue to have access to predictable premiums and high quality care.”
Access to the Medicare Advantage program will remain strong, with 99 percent of Medicare beneficiaries having access to a Medicare health plan. In addition, in 2017, more Medicare Advantage plans will offer more supplemental benefits for enrollees, such as dental, vision, and hearing benefits.
Enrollment is projected to increase to 18.5 million enrollees next year, a 60 percent increase from 2010.
In 2017, 32 percent of all Medicare enrollees will be in a Medicare Advantage plan compared to only 24 percent in 2010.
