Alignment Healthcare Announces Improvement of North Carolina and Nevada Medicare Advantage HMO 2024 Rating to 5 Stars, Highest Score from Medicare
Rhea-AI Summary
Alignment Healthcare announced that its Medicare Advantage HMO plans in North Carolina and Nevada have been recalculated to receive a 5-star rating by the Centers for Medicare and Medicaid Services (CMS) for 2024. This rating, the highest possible, reflects excellent performance in delivering high-quality care at lower costs. The improvement raises the contract's overall rating from 4.5 to 5 stars. More than 90% of Alignment's members are enrolled in plans rated 4 stars or higher, indicating consistent high-quality care. Alignment entered North Carolina in 2021 and earned a 5-star rating in the first year eligible, being one of only two MA HMO plans in the state to achieve this in 2023.
Positive
- Alignment Healthcare's Medicare Advantage HMO plans in North Carolina and Nevada received a 5-star rating from CMS for 2024.
- The rating reflects excellent performance in providing high-quality care at lower costs.
- The overall star rating improved from 4.5 to 5 stars.
- More than 90% of Alignment's members are enrolled in plans rated 4 stars or higher.
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, ALHC gained 4.41%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
ORANGE, Calif., June 24, 2024 (GLOBE NEWSWIRE) -- Alignment Healthcare, Inc. (NASDAQ: ALHC) today announced that the Centers for Medicare and Medicaid Services (CMS) recalculated the 2024 Star Rating of its H5296 Medicare Advantage (MA) HMO contract in North Carolina and Nevada, resulting in a 5-star out of a possible 5-star rating. Every year, CMS evaluates plans based on a 5-star rating, with 5 stars representing “excellent” performance.
“We’re pleased that CMS has revised the rating of our HMO contract in North Carolina and Nevada to achieve the highest possible score, recognizing excellent performance in delivering high-quality care at a lower cost,” said John Kao, founder and CEO, Alignment Health. “Our commitment to high-quality care extends to all our plans as more than
The improvement increases the contract’s overall star rating by 0.5 star, from 4.5 to 5 stars. According to CMS, the more stars a plan receives, the better the plan.
Alignment Health Plan, which entered North Carolina in 2021, earned 5 stars the first year it was eligible to be rated and was one of only two MA HMO plans in the state to achieve a 5-star rating in 2023.
For more information about Alignment Health Plan, visit www.alignmenthealthplan.com.
About Alignment Health
Alignment Health is championing a new path in senior care that empowers members to age well and live their most vibrant lives. A consumer brand name of Alignment Healthcare (NASDAQ: ALHC), Alignment Health offers more than 50 benefits-rich, value-driven Medicare Advantage plans that serve 53 counties across six states. The company partners with nationally recognized and trusted local providers to deliver coordinated care, powered by its customized care model, 24/7 concierge care team and purpose-built technology, AVA®. Based in California, the company’s mission-focused team makes high-quality, low-cost care a reality for members every day. As it expands its offerings and grows its national footprint, Alignment upholds its core values of leading with a serving heart and putting the senior first. For more information, visit https://www.alignmenthealth.com/.
Investor Contact
Harrison Zhuo
hzhuo@ahcusa.com
Media Contact
Priya Shah
mPR, Inc. for Alignment Health
alignment@mpublicrelations.com
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FAQ
What is the new CMS star rating for Alignment Healthcare's Medicare Advantage HMO plans in North Carolina and Nevada for 2024?
How much did Alignment Healthcare's star rating improve for its Medicare Advantage HMO plans in North Carolina and Nevada?
What percentage of Alignment Healthcare members are enrolled in plans rated 4 stars or higher?
When did Alignment Healthcare enter the North Carolina market?
How many Medicare Advantage HMO plans in North Carolina received a 5-star rating in 2023?
