Federal health officials on Monday announced a 0.45 percent increase in rates for the Medicare Advantage program next year, higher than the 0.25 percent hike the government had proposed in February.

The announcement from the Centers for Medicare and Medicaid Services, or CMS, translates to an average revenue increase of 2.95 percent for insurers. The revenues are lower than the 3.05 percent average expected this year but are up from the initial proposed rate, which would have increased revenues by 2.75 percent.