Posted by Kelly Sauders, Partner, Deloitte & Touche LLP
On January 6, 2014, the Centers for Medicare and Medicaid Services (CMS) issued a 678-page proposed rule with numerous provisions that could have an extensive impact on how the Medicare Advantage (MA) and Medicare Part D programs operate. Although it’s likely that modifications will be made before the rule goes into effect, MA plans should still familiarize themselves with the proposed changes so they can understand the potential impact and determine what actions might be required to get ready. In some cases, plans might also want to take the opportunity to weigh in on the subject and help shape the new rule.
Here are just a few of the changes CMS is proposing:
Because many provisions of the proposed rule are likely to change, health plans should strike a balance between preparing themselves for the future and taking action too quickly. Of course, the only way to find the right balance point is to become familiar with the changes being proposed. There is a lot of information to wade through, and the new provisions could affect many different parts of the business — from costs and budgeting to operational processes and resource planning — so it makes sense to get started right away.