Apply to participate in value-based insurance design model
Some details of the next version of the Medicare Advantage (MA) Value Based Insurance Design (VBID) model were recently announced by the CMS Center for Medicare and Medicaid Innovation (CMMI). VBID 2020 includes significantly more flexibility in targeting beneficiaries, offering customized services, and providing rewards to individuals than was originally permissible. Wellness and health care planning, including advance care planning, is a mandatory model component.
The new model, which will go into effect in plan year 2020, opens applications to MA sponsors in every State and territory. Further, participation will now be open to additional types of MA plans, including Regional Preferred Provider Organizations (RPPO) and all Special Needs Plan (SNP) types. CMS is also extending the performance period of the VBID model by an additional three years, through 2024.
The Request for Applications and Actuarial Guidance on the model website provide additional details for those organizations interested in applying for VBID 2020. Organizations must apply through the application portal by March 15, 2019.