If you’ve been looking at swapping out your Medicare Advantage plan for another, you may have noticed that your existing plan’s “star rating” has changed.
If it hasn’t dropped: Congratulations. One in four plans that had a Medicare star rating of four or more in 2022 will see their rating drop in 2023, according to the Centers for Medicare and Medicaid Services.
The CMS re-rates Medicare Advantage and Part D plans annually to reflect changes in “quality,” which consists of member satisfaction and the plans’ success in managing chronic conditions and providing preventative care.
Going into 2023, 51% of Medicare Advantage plans with drug coverage will have a star rating, compared to 68% of plans in 2022, according to the CMS. Medicare Star Rating Drops