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.But a downside of Medicare Advantage is that companies can pick and choose where they offer plans.If a certain community is not profitable, a company can leave that market.
And that has been happening on an increasingly large scale the last three years, according to research published in JAMA.Big swaths of rural America are losing Medicare Advantage choices and so are some major metro areas.Last year, 2.9 million seniors were in Medicare Advantage plans that closed up shop, according to JAMA.This year, an analysis of insurance company announcements by An Arm and A Leg podcast, shows at least 2 million people will be affected.
Other preliminary estimates range from 3.2 million to 5 million seniors.About 35 million people are enrolled in Medicare Advantage.According to an analysis of federal data by the health policy research organization KFF, the 193 counties that will have zero Medicare Advantage plans are mostly rural.
Last year that number was about 120 counties without a plan offered.KFF's numbers also show that there will be far fewer plans offered in some metro areas.Dallas, Minneapolis, Seattle, Houston and Portland al...