CVS Medicare Advantage business takes quality rating hit

CVS Health shares tumbled early Friday after the company said a big Medicare Advantage plan took a hit in government quality ratings about a week before a key enrollment window opens for the coverage.  

The health care giant said that its Aetna National PPO dropped from 4.5 stars to 3.5 in 2023 ratings, which were released Thursday by the Centers for Medicare and Medicaid Services. 

Plans are rated on a scale of 1 to 5, with five representing excellent, according to CMS. The ratings are released annually and reflect the experiences of people enrolled in the plan.  

The drop means the plan will no longer be eligible for a CMS quality bonus payment. It also could affect enrollment, since some shoppers factor the ratings into their coverage decision.