Only insurer in Rhode Island to be included on the list

PROVIDENCE, R.I. (Nov. 1, 2022) – Blue Cross & Blue Shield of Rhode Island (BCBSRI) has been included on U.S. News & World Report’s “2023 Best Insurance Companies for Medicare Advantage.” No other insurer doing business in Rhode Island made the list.

U.S. News’ Best Insurance Companies for Medicare Advantage identifies private insurance companies that offer highly rated plans. Insurance companies were recognized if the U.S. Centers for Medicare and Medicaid Services (CMS) awarded all their Medicare Advantage plans an average rating of 4.5 stars or higher across all plans.

For 2023, BCBSRI received the federal government’s highest rating – 5 out of 5 stars – for each of its Medicare Advantage HMO and PPO plans. Nationally, only 11% of plans earned 5 stars for 2023 as compared with 16% of plans for 2022. BCBSRI, which a year ago became the first and only health insurer doing business in Rhode Island to receive 5-out-5 stars for every one of its Medicare Advantage plans, is alone in that accomplishment again for 2023.

According to U.S. News, its 2023 ratings, “highlight insurance companies that are among the best in overall coverage, low premium plans, member experience and prescription coverage.”

"Many Medicare beneficiaries can be overwhelmed by the annual opportunity to find a Medicare plan that aligns with their personal health needs,” said Sumita Singh, senior vice president and general manager of Healthcare at U.S. News. “The Best Insurance Companies for Medicare Advantage serve the broader U.S. News mission to provide trusted information and rankings that help Americans navigate complex health care decisions.”

U.S. News analyzed data from CMS to populate its comparison tool and identify the Best Insurance Companies for Medicare Advantage plans. CMS rates individual plans on a scale of one to five stars. The U.S. News methodology analyzes insurers in a given state with plans rated three stars or higher by CMS.