Did you know that Medicare gives ratings to some of its plans? This is not true of all Medicare Parts; only Part C, Medicare Advantage Plans, are rated by the Centers for Medicare and Medicaid Services. The CMS compiles the data and sets the standards for the rating system. Some of the rating factors include:
- Overall quality of care for the customers.
- Members’ experience with the plan.
- How many people have left the plan over the previous year.
- How often members had issues with the plan.
- How accurate the pricing has been.
The CMS uses a star rating system to rank Advantage Plans. A plan may rank from one star (the lowest) to five stars, the best ranking available as judged by the CMS criteria. There are two time periods in which you can enroll in a five-star plan: the Annual Election Period and the five-star Special Election Period.
The Annual Election Period is the one with which most people are familiar. Your mailbox is filled with colorful circulars advertising the merits of various plans. The Annual Election Period applies to all parts of Medicare and lasts from October 15 to December 7 of each year. There is also a “Five-Star Special Election Period” also called the SEP. This applies only to Advantage Plans. The SEP runs from December 8 to November 30.
During this Special Election Period, you can switch between five-star Medicare Advantage plans, move from an Original Medicare plan to a five-star Medicare Advantage plan, change from a lower rated plan to a five-star plan or from a lower-than-five-star Rx plan to a five-star Rx plan. You can also change between any two five-star Rx plans.
All of this may seem complicated. Before you do any changing, you should fully understand the pros and cons of each program. Medicare beneficiaries can get a full and accurate understanding of Advantage Plans and the Special Election Period by contacting the Murray Insurance Agency, one of the OurSeniors Family of Approved Vendors.
The Murray Insurance Agency is committed to helping seniors in every possible way when it comes to healthcare coverage. Their Medicare Specialists meet face to face with clients or by using up-to-date computer screen technology to compare plans, which ever method is most convenient for the senior client. They are especially proud of the Florida Blue Medicare Advantage Plans they offer, rated five stars, of course!
You can read about Murray Insurance in the printed Summer 2019 Edition of OurSeniors.net Magazine or read it online by clicking Five-Star Medicare Plans for Florida. Murray has offices in Longwood (the home office), South Daytona , Holly Hill and Ormond Beach. Call 321-233-2424 for information.