Many of the major providers of Medicare Advantage plans have decided to withdraw from the market in 2010.
These are "private fee for service" plans available to those covered under Medicare.
Funding to these companies has been cut causing a number of companies to make the business decision to no longer offer these plans.
More companies are likely to follow suit after 2010 in light of efforts by the government to discontinue these plans.
Over 10 million consumers had opted for these plans and many of these will be forced to change insurance plans as their plans expire at the end of 2009.
There are essentially two options for those who are losing coverage: oMove to another Medicare Advantage plan carrier - Despite the withdrawal of a number of companies, some major insurers have decided to continue offering plans.
There are many good plans with exceptional benefits remaining.
The annual election period from November 15th to December 31st of each year allows customers to switch plans with no medical underwriting.
The premium for these plans are not based on age or health conditions, therefore, these plans are competitively priced.
oReturn to original Medicare - Medicare Advantage customers who are losing their plan can always return to the "tried and true" system of original Medicare along with a Medicare supplement or Medigap plan.
Although these plans are priced based on age, a good plan will pay the deductibles and 20% coinsurance that Medicare does not pay.
This means that most medical expenses are covered in full, unlike the Advantage plans that have co-pays and other out-of-pocket expenses.
Here is the best part-there is no medical underwriting for a customer that is losing their advantage plan.
Even those with uninsurable conditions are guaranteed the plan of coverage with the insurer of their choice.
For those who have not been happy with Medicare Advantage, this is the perfect opportunity to return to Medicare and the most competitive supplement plan available.
These are "private fee for service" plans available to those covered under Medicare.
Funding to these companies has been cut causing a number of companies to make the business decision to no longer offer these plans.
More companies are likely to follow suit after 2010 in light of efforts by the government to discontinue these plans.
Over 10 million consumers had opted for these plans and many of these will be forced to change insurance plans as their plans expire at the end of 2009.
There are essentially two options for those who are losing coverage: oMove to another Medicare Advantage plan carrier - Despite the withdrawal of a number of companies, some major insurers have decided to continue offering plans.
There are many good plans with exceptional benefits remaining.
The annual election period from November 15th to December 31st of each year allows customers to switch plans with no medical underwriting.
The premium for these plans are not based on age or health conditions, therefore, these plans are competitively priced.
oReturn to original Medicare - Medicare Advantage customers who are losing their plan can always return to the "tried and true" system of original Medicare along with a Medicare supplement or Medigap plan.
Although these plans are priced based on age, a good plan will pay the deductibles and 20% coinsurance that Medicare does not pay.
This means that most medical expenses are covered in full, unlike the Advantage plans that have co-pays and other out-of-pocket expenses.
Here is the best part-there is no medical underwriting for a customer that is losing their advantage plan.
Even those with uninsurable conditions are guaranteed the plan of coverage with the insurer of their choice.
For those who have not been happy with Medicare Advantage, this is the perfect opportunity to return to Medicare and the most competitive supplement plan available.
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