Last week the Centers for Medicare & Medicaid Services, or CMS, released its star ratings for Medicare Advantage and Medicare Part D Prescription Drug Plans.
Each year CMS calculates Medicare star ratings based on performance and member satisfaction data for Medicare Advantage plans and Medicare Part D prescription drug plans.
Plans are rated on a number of quality measures from 1 to 5 stars, where 1 is the worst and 5 is the best. These measures include customer service, member complaints about the plan, and how well the plan manages chronic conditions. CMS also calculates a rating for each plan.
Medicare star ratings reached record highs in 2022, but they’re coming back down for 2023. It’s not the first time the government’s quality ratings for Medicare plans have fallen, but this year’s decline involves more than the usual yearly adjustments.
With the annual Medicare open enrollment season beginning later this week you can read the entire article before you make your decision about your Medicare enrollment for next year: https://www.marketwatch.com/story/why-did-medicare-star-ratings-go-down-for-2023-heres-what-it-means-for-beneficiaries-11665170016?mod=retirement
