In this article, McKinsey explores recent changes to how Medicare Advantage star ratings are calculated and how plans will need to adapt in 2023 and 2024.| McKinsey & Company
Star ratings bonuses reached $12.8 billion, according to the KFF, as the Medicare program faces a growing spending crisis.| Healthcare Dive
The QBP is a significant source of revenue for MA insurers, but generally doesn’t translate to higher quality care for beneficiaries, according to the nonprofit’s new report.| Healthcare Dive
Just 21% of CVS’ MA members are currently in plans with a star rating of at least four, down from 87% at the end of 2021, the payer disclosed.| Healthcare Dive
Note: The information included in this Fact Sheet is based on the 2024 Star Ratings published on the Medicare Plan Finder on October 13, 2023. For details on the Medicare Advantage (MA) and Part D Star Ratings, please refer to the 2024 Part C & D Star Ratings Technical Notes available at http://go.cms.gov/partcanddstarratings. Introduction| www.cms.gov
Just over half of plans received four stars or more for 2023, a sharp decrease from 68% last year.| Healthcare Dive
The insurer has been struggling with headwinds from Medicaid redeterminations and MA star ratings. The layoffs follow similar workforce reductions at CVS Health earlier this summer.| Healthcare Dive
Volatility in MA stars for the 2023 plan year is raising questions around the earnings outlooks issued by payers.| Healthcare Dive