CMS issues 2020 Medicare Advantage, prescription drug plan star ratings

The Centers for Medicare & Medicaid Services today published its star ratings for 2020 Medicare Advantage and prescription drug plans. Most people with Medicare will have access to MA and Part D plans with four or more stars in 2020, and about 81% of MA enrollees with prescription drug coverage will be in plans with four and five stars in 2020, an increase from 69% in 2017. CMS last month released premium and cost-sharing information for MA and Part D prescription drug plans for the 2020 calendar year. The average MA premium will decrease by $3.87 (14%) to $23, while the average monthly premium for a basic Medicare Part D prescription drug plan will decrease by $2.50 to $30, the agency estimates. CMS projects MA enrollment will climb by 2.2 million in 2020 to a record 24.4 million. Open enrollment for 2020 Medicare health and drug plans begins Oct. 15.