What are Medicare 5-Star Plans?
Because Medicare contracts with private insurance companies that offer Medicare Advantage plans and Medicare Part D Prescription Drug plans, Medicare evaluates and rates these plans. The plans with the highest ratings receive 5 stars.
What Are the Ratings Based On?
The ratings are based on feedback from both doctors and patients. A plan can be rated 1 through 5 stars, and Medicare can terminate a plan if its ratings are low. The plans are scored in several categories including quality of care and member responsiveness.
Why Are the Ratings Needed?
Like anything else, a "Buyer Beware" attitude is important when purchasing insurance coverage. The ratings help consumers make informed choices. Many different plans are provided across the country and they do differ in coverage, cost, and quality (federal law does have some coverage requirements.) Plans are evaluated annually.
