For Immediate Release
January 9, 2019
For More Information Contact:
Public School Employees’ Retirement System
PSERS HEALTH OPTIONS PROGRAM PRESCRIPTION DRUG PLAN EARNS A 4.5 STAR RATING FROM THE CENTERS FOR MEDICARE AND MEDICAID SERVICES FOR 2019
PSERS program earns 4.5 stars out of possible 5 stars
HARRISBURG, PA – The Pennsylvania Public School Employees’ Retirement System (PSERS) is pleased to announce that PSERS Health Options Program (HOP) Prescription Drug Employer Group Waiver Plan earned a 4.5 Star Rating from the Centers for Medicare and Medicaid Services (CMS) out of a possible 5 stars for the 2019 calendar year.
PSERS Director, Health Insurance Office, Peter Camacci commented on the rating, “PSERS remains committed to keeping the HOP prescription drug program affordable, to providing meaningful member choice, and holding vendors accountable to provide our members with best-in-class service.”
Each year, CMS evaluates applicable health and prescription drug plans based on a plan’s quality and performance. CMS uses a 5-star rating system that helps beneficiaries know how well a plan is doing. The star rating is a quality rating system of 14 measures of Medicare beneficiaries' experience with their drug plans. Star ratings can be used by beneficiaries to compare a plan’s performance with other plans.
PSERS HOP Prescription Drug Plan scored very high in its recent CMS evaluation in the following areas: Quality Improvement, Rating of Drug Plan and Obtaining Needed Prescription Drugs.
About the Health Options Program
The HOP Prescription Drug Plan is sponsored by PSERS for the exclusive benefit of our retirees and their families. PSERS HOP Drug Program is entirely funded through participating member premiums and provides Prescription Drug plans to over 89,000 retirees.
About the Pennsylvania Public School Employees’ Retirement System
PSERS is the 15th largest state-sponsored defined benefit public pension fund in the nation. As of September 30, 2018, PSERS had net assets of approximately $54 billion and a membership of over 256,000 active school employees and over 233,000 retirees.