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The premium declines for both programs are a result of several actions that CMS has taken over the last two years “to protect and strengthen the Medicare Advantage and Part D programs.

The average monthly premium for a Medicare Advantage plan is set to be the lowest in the last 13 years – at the same time plan choices, benefits and enrollment will continue to increase, according to the Centers for Medicare and Medicaid Services.

In 2020, the Medicare Advantage average monthly plan premium will drop to an estimated $23 – 14 percent lower than the $26.87 average in 2019 and the lowest average since 2007, the CMS reports. Since 2017, the average monthly plan premium has fallen by an estimated 27.9 percent.

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Katie Kuehner-Hebert

Katie Kuehner-Hebert is a freelance writer based in Running Springs, Calif. She has more than three decades of journalism experience, with particular expertise in employee benefits and other human resource topics.

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