Upcoming Changes to Medicare Advantage Plans in Maine
As of January, over 36,000 residents of Maine will see their Medicare Advantage plans disappear due to cuts from insurers across the country, as reported by the state Department of Insurance to the Bangor Daily News.
This week’s report clarified the extent of how these cuts will affect Maine’s residents, something that hadn’t been fully detailed before. Aetna and Anthem are both discontinuing two plans each in the state, while Martins Point Healthcare will eliminate one plan statewide and reduce two others in the eastern and northern regions.
According to Bob Carey, who heads the state’s health department, there isn’t complete information yet from Humana or UnitedHealthcare. A spokesperson from UnitedHealthcare mentioned that the changes would impact around 100 individuals, but they could transition to different plans.
For those losing their coverage, there are options to switch to another Medicare Advantage plan or a Medicare Supplement plan, often referred to as Medigap. It’s a good idea to keep your notification letter handy as it could facilitate the transition process.
Medigap plans provide similar services to Original Medicare but without extra benefits, and importantly, they don’t restrict access to provider networks for non-emergency visits. Typically, individuals will need to obtain prescription drug coverage separately.
While some plans are still available in Maine, preliminary data suggests that older adults in the eastern part of the state might experience a larger impact from these changes. The insurer previously noted plans to significantly reduce Medicare Advantage offerings in other parts of northern New England, including New Hampshire and Vermont. This comes at a time when residents are already dealing with uncertainties regarding healthcare access and insurance, particularly following recent federal cuts to traditional Medicare funding.
Medicare Advantage plans, meant to serve as alternatives to traditional Medicare, are marketed for offering extra benefits at potentially lower costs, such as dental, vision, and prescription coverage. These plans are run by private insurance companies that are approved at the federal level and do come with limitations on provider networks for non-emergency care.
Statistics from KFF indicate that about half of the nation’s eligible Medicare population, including around 212,000 people in Maine, are enrolled in these plans. Interestingly, their popularity has grown significantly over the past two decades, but currently, insurance companies are offering fewer options, largely due to rising costs and changes in federal regulations.
Because Medicare Advantage plans are regulated at the federal level and there is no single source of information for the entire state, the Maine Department of Insurance needs to reach out to individual providers. So far, they discovered that Martins Point Healthcare is discontinuing its Generations Advantage Value Plus plans statewide, which affects 20,185 individuals.
Additionally, the Generations Advantage Prime plan in Aroostook, which serves 7,888 people, is being ended. Other plans impacted include the Generations Advantage Select Plan, affecting 352 residents across multiple counties, as well as several plans from Aetna and Anthem, impacting thousands more.
