Area cuts to Medicare Advantage plans leave seniors with few options
Across
The effects are being felt in
"I didn't think I was in any kind of situation, so when I received a letter on
While not as severe as
Clark advised seniors on plans that are ending to discuss their current options with a trusted local agent. She said that if their plan is ending, they would be able to sign up for Medicare supplements with no backpay that could help seniors cover the costs of their care.
Clark said anytime insurance companies want to make significant changes to their Medicare Advantage plans, they must cancel the current plans.
"I don't think that there is a cause for concern," Clark said. "
Yet for seniors, finding an insurance representative that can walk them through the process of finding a new plan has been challenging. In
"I go online and I look at medicare.gov and they get all these charts. It's a bit confusing because I want to know a little more detail and it's not there," Ollie said. "Having an insurance broker who could explain to me the fine points of a policy is very important. So here we are, we have no live person who wants to do that."
Spears said only one insurance company,
"I don't know how long we can stay open while being paid nothing," Spears said.
Clark said that any seniors whose Medicare Advantage plan is ending will have the option to switch to a Medicare supplement plan. However, Ollie said that she hopes to remain on Medicare Advantage because she prefers its simplicity and price to the other options.
On a base Medicare plan, Ollie said she would absorb 20% of the costs, which leaves her unable to properly budget for healthcare costs.
"If I could predict the future and realize it's a low-cost year, 20% of maybe
Ollie described the overall process of searching for a new plan as "frustrating" and said that it brought her more awareness of how difficult the healthcare system can be to navigate.
"We need to work together to fix things because I don't think this is about me or any other folks in my age group, I think it's about all of us," Ollie said. "The lesson was brought home to me in kind of a hard form when I got the letter."
Clark said that there could be further changes coming to plans in 2027 and that those with questions can reach out to the


Opinion: Colorado entrepreneurs need Congress to keep health care affordable and pass premium tax credit
Ballad Health sues UnitedHealth Group, alleges pattern of denied and delayed care
Advisor News
- Wealth planning vs. estate planning: Honoring your client’s wishes
- What to discuss during the first retirement planning meeting
- Inflation, competing priorities and uncertainty erode retirement security
- As health premiums rise, 1 in 8 workers cut retirement savings
- CT governor’s candidates claims: What’s true, and what’s misleading
More Advisor NewsAnnuity News
- National Life Group expands annuity portfolio
- AM Best to Join Life/Annuity Insurance-Focused Panel Discussion at Capitol Forum Event
- USAA Earns No. 1 Ranking in JD Power Individual Annuity Study for the Third Consecutive Year
- How flexible annuities fit today’s retirement portfolios
- Foresters Financial appoints Tom Ross as chief distribution officer for U.S. annuity sales
More Annuity NewsHealth/Employee Benefits News
- Pennsylvania Health Plans Must Cover Colon Cancer Screening at 45
- In Miami-Dade court, health insurer fights an order to cover $48,500 cancer drug
- Fed judge blocks Medicaid work requirement rule
- Health insurers leave millions unpaid for mental health crisis care in California
- Commissioner places Mending Health in conservatorship
More Health/Employee Benefits NewsLife Insurance News
- AM Best Affirms Credit Ratings of Insignia Life S.A. de C.V.
- FINANCIAL FRAUD
- Security Benefit Announces Planned Dividend Rate Reset for Series B Preferred Stock
- Palmetto Heritage and Atlantic Coast Life Announce Discussions Regarding Potential Acquisition
- Jury finds insurance company acted in bad faith, awards Nebraska woman $11.3M
More Life Insurance News