How to find a 5 Star rated Medicare Advantage Plan for 2024
Millions of seniors eligible for Medicare advantage plans are currently enrolled in such plans. Weighted by enrollment, it is estimated that about 74 percent of Medicare Advantage Plan (MA-PD) members are enrolled in high rated contracts with 4, 4.5 or 5 stars in 2024, according to CMS.gov (The Centers for Medicare & Medicaid Services).
What are 5-Star Medicare Advantage Plans?
In an effort to provide more transparency and improve the overall quality of Medicare advantage plans, CMS introduced a scale from 1 to 5 stars to rate advantage plans each year after their previous year’s performance was audited. High performance results in a 5-star rating, while one star represents poor performance of a plan.
Since the star rating was introduced a few years ago, plan providers have “really dedicated themselves to quality improvement”, a CMS official explained.
The star rating has also greatly influenced Medicare beneficiaries, as more are making each year active switches into higher rated plans.
How to find a 5-Star Medicare Advantage plan 2024?
You can download the current list of high or poor performing Medicare Advantage Plans for 2024 with or without drug coverage at CMS.gov.
Note that not all plans are available in all local areas. To find a high Star rated Medicare advantage plan that best meets your health care needs and budget, a good starting point is the Plan Finder Tool at Medicare.gov.
After entering your zip code and some other important criteria, such as your current prescription drug needs, you will see a list with available advantage plans. Each plan’s rating can be found next to the plan’s description.
The annual ratings are published by CMS each fall before the start of the Medicare open enrollment period on October 15th, where Medicare beneficiaries are allowed to enroll in and switch plans.
To determine the ratings, CMS audits advantage plans according to different quality signals, taken from several sources, including member satisfaction surveys about medical care and customer service of the provider. Specific quality criteria determine the quality of a plan. It is, for example, important how often members of each plan have taken advantage of preventive screenings, checkups or vaccines, which treatments were used to manage members health conditions, pricing, the number of complaints that were filed and decisions appealed.
Take advantage of the special enrollment period
5-Star rated plans also have the advantage that Medicare beneficiaries can enroll in them, or switch to them, once at any time during the year even outside the Medicare Open Enrollment period each year from Oct 15 – Dec 7. To do so, you must only meet the requirements of the 5-star plan, meaning you must have Medicare Part A and B and live within the plan’s service area.
It is a good idea to check your plan’s performance each year. If you find your plan on the low performers list or are looking for a plan that better fits your current health care needs, make sure to compare available alternatives thoroughly before you switch. Medicare will also notify members of a consistently low performing plan that had less than 3 stars during the past 3 years by mail, explaining their options to switch to a better rated plan.
