Medicare Advantage Insurers in Retreat
Medicare Advantage enrollment may contract for the first time in 20 years as annual enrollment kicks off.
Medicare Advantage has gained popularity over the past decade with zero-dollar premiums and generous benefits, but growth has slowed in recent years.
Those people in Medicare Advantage who have pretty much had a stable, easy way to go through open enrollment? Not this year.
Private Medicare insurers are reducing the number of plans and benefits due to increased care costs, resulting in tough choices and fewer options for beneficiaries.
According to Diane Omdahl, president and founder of 65 Incorporated, a Medicare consulting firm, this year's open enrollment will be challenging.
Author's summary: Medicare Advantage enrollment may decline due to reduced plans and benefits.
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