CY2021 Medicare Advantage and Prescription Drug Plan Rates Announced

CMS published the updated payment methodologies for Medicare Advantage and Prescription Drug plans this week.  Plans can expect an average increase in revenue of 1.66% in calendar year (CY) 2021, and CMS will continue to use the methodology described in the 2021 Advance Notice to derive the benchmark county rates, how the qualifying bonus counties are identified, and the applicability of the Star Ratings. However, rural and urban providers participating in these plans should refer to the Policy and Regulatory Revisions in Response to the COVID-19 Public Health Emergency Interim Final Rule for changes in quality data reporting for 2021 and 2022.