Are they phasing out Medicare Advantage plans?
No, Medicare Advantage plans are not going away completely, but major insurance companies are cutting thousands of specific plans and dropping over a million enrollees for 2027.
The overall Medicare Advantage program remains active, but the market is shrinking as private insurers scale back their footprints to manage rising medical costs.
What is Happening to the Plans?
- Plan Reductions: Major carriers like Humana, UnitedHealthcare, and Centene are eliminating thousands of individual plan options across the country.
- Geographic Cuts: Insurers are pulling out of hundreds of specific counties where plans are no longer profitable.
- Reduced Benefits: Many surviving plans are lowering extra perks—such as dental, vision, and transportation allowances—while raising co-pays and deductibles.
- Detailed industry data and analysis of these reductions can be tracked via Healthcare Dive.
What You Should Do
- Check Your Mail: Insurers must send an Annual Notice of Change (ANOC) or a non-renewal notice if your specific plan is changing or ending.
- Mark the Dates: Medicare's annual open enrollment period runs from October 15 through December 7, allowing you to switch plans or return to traditional Medicare for January 1.