Medicare Advantage Plan Exits for 2025

Nearly 1 million people will lose their Medicare Advantage plan for January of 2025. That is called a Medicare Advantage plan exit. They are exiting your county. They might be in your state, but they are leaving your county. Now, in some cases, they're leaving the whole state too. Of the big five Medicare Advantage insurance companies, UnitedHealthcare haven't announced that they're exiting anywhere. That's a good sign. You want that type of stability. Humana said they're exiting, but they haven't given us specifics. Aetna said that they expect to lose 10% of their total members. Lots of exiting. Cigna, exiting. Centene, exiting. So the big five, only United, is going to be stable for this year. Everybody else, they're going to leave areas that are not profitable. And that's another whole video, what makes it a profitable area. Typically, not a rural area, an area with more hospitals and more competition. And there's not just one hospital that can drive the prices in that area. So if you are one of the unlucky people that is getting that letter that says your plan is leaving, pick a new plan. It might be a silver lining because now you're guaranteed you could go to a Medicare supplement plan. Any plan. Well, most plans, regardless of your health. So that could be a golden ticket for you over there that you thought, oh, I can't go because I had a heart attack two years ago. If your plan exits, you can. You have to do things in a certain time period, and that will be in the letter notifying you that your plan is exiting. It will tell you everything. But I mean, you can't appeal it. They're gone. You got to pick something else. If you don't, you're not just left without health insurance. You will still have original Medicare A and B, which is not enough. So I want you to pick something else. Either another Medicare Advantage plan or go back to government Medicare, original Medicare and a Medicare supplement plan. So most people are just going to get another Medicare Advantage plan, which just makes it all that much more crazy because you might have loved your plan. It had tremendous benefits and you've been using them every month and you love it. And now you got to start all over again. Book an appointment, tell us your drugs and doctors and what's different and let us see what's available for 2025. That's part of the ball game. When you decide to play with private Medicare Advantage, you have to be flexible because it is constantly changing. Now this is unusual to have nearly a million people losing their plan in one year. Every year we have about, I don't know, five to 10 small insurance companies that might exit. And this year we also had some small ones beside the big four that I mentioned. We also have Blue Cross Blue Shield of Arizona and of Kansas, Clear Springs Health, some smaller ones that are doing some exiting. But to have the big insurance companies saying, woo, we're going to contract this year, that puts a lot more burden on you, on more people out there. And it's during this little window, right? You have October 15th through December 7th to make an appointment and get this taken care of. And in that period, you also have Thanksgiving, right? So, and the election. So get in early, book an appointment early. And with us, the Medicare family, you can't book it until one week in advance. So don't wait because many companies like us, we have to turn people away at the end of the AEP because we're too busy. We can't get to everyone. Don't put this off until the last week of November or the first week of December. There might not be anybody to help you. You know, you have to move. You're getting the letter, read the letter, the annual notice of change letter your company will send you in the month of September. Read it, keep it, and then make an appointment with our team, the Medicare family. You can book it right on our, right on our website, the little yellow box, one week before you want to meet with us. And I like to get things done early. So I would be doing, making the appointment the first week of October so I can meet right away, October 15th, right then, and get this taken care of. The new plan that you choose will not start until January 1st of 2025. So you'll still be on this plan for the rest of this calendar year. I'm sure you have a lot more questions. Ask our team. Our consultations are free. Our help is free. We're licensed in all 50 states and we're here to help. If you like this video, you might really like this video. Check it out. And we'd appreciate if you subscribe to our channel so you never miss a great video. We put out one every week. Check in the description below this video for a link to our cheat sheet on social security and Medicare. And you can also give us a comment. If you have a specific question, always feel free to call us or email us at TheMedicareFamily.