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.
The COVID-19 pandemic triggered changes to 2022 star rating calculations that led to higher scores. 2023 star ratings don’t get that same boost.
The updated methodology is mostly responsible for the ratings decline for 2023, but it’s still a good idea to shop around for the best plan. Here’s what Medicare beneficiaries need to know when comparing plans during the 2023 Medicare open enrollment period, which runs from Oct. 15 to Dec. 7.
What are Medicare star ratings?
The Centers for Medicare & Medicaid Services, or 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…
This article was written by Alex Rosenberg and originally published on www.nerdwallet.com