Stephens notes that a U.S. District Court Judge ruled that CMS must recalculate 2024 Medicare Star ratings for Elevance’s BCBS of Georgia plan, which follows last week’s ruling in favor of SCAN Health’s lawsuit against CMS. The Court having ruled against CMS in two separate lawsuits means the pressure will likely build for CMS to implement an industry-wide remedy to address the 2024 Stars situation, contends the analyst, who maintains an Overweight rating and $615 price target on Elevance Health shares.
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