Is your Medicare Advantage plan ending next year? Here's what to know
Medicare Advantage plans are being discontinued in many U.S. counties, particularly in rural areas, leaving millions of seniors to find new coverage. The reduction in plan availability is driven by insurance companies exiting markets they deem unprofitable.
Why it matters
This trend threatens the healthcare stability of millions of seniors, forcing them to navigate complex enrollment changes during the annual open period.
A slew of Medicare Advantage plans are disappearing for next year, leaving seniors in many areas with fewer options. In 193 counties across the country, no plans are offered at all.
Medicare's annual open enrollment period kicked off October 15 and runs until December 7, and seniors enrolled in those privatized Medicare plans that are closing in certain markets should carefully review their options.
Medicare Advantage means private insurers run Medicare for older Americans who choose it over traditional Medicare, where the federal government itself administers the program. More than half of the 70 million Americans in Medicare choose Medicare Advantage. It's popular because it covers services like vision and dental, often with lower premiums than traditional Medicare. It also often folds in the "Part D" drug benefit, simplifying that decision.
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