Healthcare insurance companies do not have the best reputation in the eye of the public. They're directly tied to the pain-points that Americans face each day related to increased healthcare costs and limited choices for where to seek treatment.However, according to the Centers for Medicare and Medicaid Services (CMS), 83% of Americans on Medicare Advantage had health plans that were considered "above average". Medicare Advantage (MA) plans, in short, are private health plans that give Medicare benefits. These MA plans are rated on a scale of 5 stars, and plans scoring 4 or more stars receive financial bonuses from CMS.By late August, spending on the bonus payments reached $10 billion. Clearly, Americans haven't noticed much of an improvement in the quality of health insurance plans, and experts are growing increasingly skeptical of the CMS stars ratings.
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If All Plans are Above Average, None of Them…
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Healthcare insurance companies do not have the best reputation in the eye of the public. They're directly tied to the pain-points that Americans face each day related to increased healthcare costs and limited choices for where to seek treatment.However, according to the Centers for Medicare and Medicaid Services (CMS), 83% of Americans on Medicare Advantage had health plans that were considered "above average". Medicare Advantage (MA) plans, in short, are private health plans that give Medicare benefits. These MA plans are rated on a scale of 5 stars, and plans scoring 4 or more stars receive financial bonuses from CMS.By late August, spending on the bonus payments reached $10 billion. Clearly, Americans haven't noticed much of an improvement in the quality of health insurance plans, and experts are growing increasingly skeptical of the CMS stars ratings.