SAN JUAN, Puerto Rico, Oct. 13, 2016 /PRNewswire/ -- Triple-S Management Corporation (NYSE: GTS), a leading managed care company in Puerto Rico, today announced the star ratings for its Medicare Advantage plans from the Centers of Medicare and Medicaid Services (CMS) for payment year 2018. The purpose of this rating system is to provide Medicare beneficiaries with information to compare the quality of care across different plans. The company's HMO offering (H5774) increased from 3 to 4 stars overall and achieved 5 stars in Part D on a 5-star rating system. Its PPO product (H4005) maintained its 3.5 star rating overall and achieved 4.5 stars in Part D.
The Medicare rating system ranks plans from 1 to 5 stars, with 5 stars representing the highest score. It is worth noting that no plan in Puerto Rico has achieved more than a 4 star overall rating. Star ratings are calculated annually and are subject to change each year. CMS uses data from member satisfaction surveys, health plans, and health care providers to arrive at a plan's overall star rating. The rating system employs more than 40 different quality measures in five separate categories.
Roberto García, CEO of Triple-S Management, commented, "I am delighted with the CMS ratings and recognize that this objective was achieved through the hard work of many people. Obtaining an earlier-than-anticipated 4 star designation in our HMO contract, which accounts for approximately 85% of our Medicare Advantage membership, is a testament to our dedicated team of employees and providers, as well as the significant investments we have made in technology and systems. This achievement is particularly significant in light of the reduction in Medicare Advantage funds for Puerto Rico over the last several years. Our 4-star rating is a tremendous asset that will help us further leverage the strength of the Blue Cross Blue Shield brand as we expand our footprint across the island, and it also reflects our dedication to providing the highest quality of care for our members. Accomplishing this goal, which is part of our broader corporate transformation, demonstrates that the strategy we have outlined is producing tangible results."
About Triple-S Management Corporation
Triple-S Management Corporation is an independent licensee of the Blue Cross Blue Shield Association. It is one of the leading players in the managed care industry in Puerto Rico. Triple-S Management has the exclusive right to use the Blue Cross Blue Shield name and mark throughout Puerto Rico, the U.S. Virgin Islands, and Costa Rica. With more than 50 years of experience in the industry, Triple-S Management offers a broad portfolio of managed care and related products in the Commercial, Medicare Advantage, and Medicaid markets under the Blue Cross Blue Shield marks. It also provides non-Blue Cross Blue Shield branded life and property and casualty insurance in Puerto Rico. For more information about Triple-S Management, visit www.triplesmanagement.com or contact firstname.lastname@example.org.
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SOURCE Triple-S Management Corporation