Medicare Supplement plans have an Annual Enrollment Period during Fall and this is the time that people consider comparing their Medicare plans with other plans such as Medicare Advantage plan or the Part D Plan referring to the Medicare Prescription Drug. They also compare their plan with other plans available in the market. The comparison is done taking into consideration the coverage and cost of the plan. However, the fact is that people must also consider the performance and quality of an insurance plan without just focusing on the cost of the plan. Initially, this was very difficult, but now with the CMS start ratings, things have taken a better shape offering the right results.
The CMS star is a way of ranking the overall plan and giving it a summary score. The advantage is that they do not make use of high or unexplainable terms. Keeping it user-friendly, it is expressed in the form of stars. The rating is based on the number of stars a plan system has received. This helps even the health care to see the stars on their quality and to improve accordingly. The star rating was a health care reform part aiming to improve the care quality that is provided by Medicare private plans. Each Medicare supplement plans are rated from 1 to 5 in the star forms. The star rating is taken in to calculation every year and the results are also published during the Fall.
The star rating is as below:
- 5 star rating is considered excellent and it is represented as *****
- 4 star rating is considered above average and is represented as ****
- 3 star rating is considered average and is represented as ***
- 2 star rating is considered average and is represented as **
- 1 star rating is considered poor and is represented as *
Transamerica medicare supplement measure the stars as to how well they perform and this is done on over 50 items that is grouped into varying categories. The rating of the stars gives an overall measure. In fact, you can check the details of each category, if required.
How to compare employing CMS Star Ratings
The CMS star rating offers the simplicity of comparing the Medicare Supplement plans. You can observe that the tools used in comparing Medicare plans feature star rating. Thus paying attention to the performance, plan quality is possible by comparing that was never easier earlier ever before.