HARRISBURG – For the third consecutive year, the federal Centers for Medicare and Medicaid Services has awarded one of its top consumer-based awards to the prescription drug program operated by the Pennsylvania Public School Employees’ Retirement.
CMS awarded a 4.5 Star Rating to the Prescription Drug Employer Group Waiver Plan that will be offered by PSERS Health Options Program (HOP) for the upcoming 2021 calendar year. CMS’ Medicare Star Rating program grades all health and/or prescription drug plans based on quality and performance. Grading criteria is based on a 1- to 5-point system. Shoppers can use the ratings to help them select the best plans for themselves or their families.
The HOP program has earned the 4.5 rating annually since 2019 for overall service and quality of the prescription drug plan that retirees voluntarily pay for through a monthly premium. PSERS’ latest CMS Star rating was based in part on how our members rate the plan’s services and care, and how well our plan helps our members use recommended and safe prescription medications.
“Being a three-peat winner of this rating is quite an honor,” said Peter Camacci, PSERS Director of the Health Insurance Office. “It shows HOP continues to offer our retired members superior services, which are especially necessary and needed during the ongoing COVID-19 pandemic.”
About PSERS Health Options Program
PSERS HOP Prescription Drug Plan is a voluntary, exclusive benefit of our retirees and their families. PSERS HOP Drug Program is fully funded through participating member premiums and provides coverage to nearly 96,000 retirees.
About the Pennsylvania Public School Employees' Retirement System
PSERS, founded in 1917, began operations in 1919 to oversee a statewide defined benefit pension plan for public school employees. PSERS' role expanded upon the passage of Act 5 of 2017 to include oversight of two new hybrid options consisting of defined benefit and defined contribution (DC) components and a stand-alone DC plan. As of Sept. 30, 2020, PSERS had net assets of $60 billion and a membership of about 256,000 active, 240,000 retired school employees and 26,000 vested inactive members.