The cut in funding to insurance companies that offer Medicare Advantage Plans has in some cases resulted in a huge premium increase for plan members.
Humana private fee-for-service plans have seen annual increases that have made it unaffordable for many members.
Medicare Advantage plan non-renewals
Some insurance companies that offer Medicare Advantage Plans have reacted to funding cuts and legislation that became effective in 2011 by choosing not to renew their private fee-for-service plan offerings.
United Healthcare has suspended their Secured Horizons private fee-for-service plans in many Counties. Coventry Health Care has also suspended their Advantra Freedom private fee-for-service plans in Florida. Florida is not the only State to see plans non-renew. Many members elsewhere across the County have seen companies pull their plans.
Medicare Advantage Plans still have value
There are still Medicare Advantage plans that offer a good value to Medicare beneficiaries. Most often these plans are network based plans, either PPOs or HMOs. As an example, in Escambia County Florida, United Healthcare’s AARP Medicare Advantage Plan, AARP MedicareComplete, is a PPO with a $0 monthly premium. This is just one example of plans that continue to be affordable for those who are on a tight budget.
These specific examples are not necessarily an endorsement of the plans mentioned. To get complete information about available plans in your area, you can visit the official Medicare website and select the compare plans option.
Humana Medicare Advantage plans are just one option in most Counties. Compare plans during the Annual Enrollment period to find the best plan for your needs and budget.