Medicare Advantage providers face a 1.12% average cut in next year’s reimbursement rate, the Centers for Medicare & Medicaid Services  announced on Friday. After intense insurance industry lobbying, the final rate was less than the 2.3% drop that regulators initially proposed.

Additional changes aimed at combatting overbilling by providers will be phased in over a three-year period.

“This year’s update strengthens Medicare for our seniors and Americans with disabilities,” said Xavier Becerra, secretary of Health and Human Services. “We are committed to ensuring private companies are holding up their end of the deal to provide quality care to beneficiaries and that payments to these companies are accurate. Together with President Biden’s budget, this update protects Medicare for beneficiaries today and beyond 2050.”

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