Few changes in Medicare plans for 2018; 2019 is another story
Open enrollment started
The annual shopping period ends
"Changes actually are going to be pretty minimal for 2018," said
About 956,000 Minnesotans receive benefits from Medicare, the massive federal health insurance program for people age 65 and over plus certain special populations. More than half of all beneficiaries in
A
In many cases, premiums in
"The rate changes for 2018, we're really happy with them," Peterson said. "Clients are not balking at the price points."
The
For many years, the federal government has been taking steps to close the Cost plans. Right now, they are expected to go away in 2019 in counties where two or more sizable Medicare Advantage plans are being sold -- a standard that would impact about 70 of
The expected change is one reason that national health insurers
"We wanted to have an additional competitive product in the marketplace for what will be a transition in the future from the Medicare Cost plans to Medicare Advantage plans," said
For 2018,
The expected "sunset" for Cost plans has been repeatedly delayed over the years, but aspects of the change scheduled for 2019 will start showing up in just a few months. People who are newly eligible for Medicare because they are turning 65 next year will have access to Cost plans only in certain circumstances -- another reason insurers that currently sell Cost plans are rolling out Medicare Advantage options for 2018.
"There are a lot of people who have Cost plans who, until it happens, aren't going to be very aware of it," said
For now, Medicare consumers should not be anxious because they can stick with their plans for 2018, Peterson said. Over the next year, he added, seniors should talk with their brokers about the differences in Advantage plans.
Some consumers like Cost plans because they give seniors flexibility to pair medical benefits from one insurance company with pharmacy benefits from another, Peterson said. He added that Medicare Advantage plans have network limits that could leave consumers with extra costs if they use out-of-network doctors or hospitals.
UCare for 2018 is introducing a Medicare Advantage plan that will be available in 41 counties across southern
Twitter: @chrissnowbeck
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