An estimated 44,000 seniors in New Hampshire could see changes to their Medicare Advantage plans starting in 2025. The change comes after some insurance companies announced they could no longer keep up with rising medical costs. After January 1, 2025, some companies will exit the Medicare Advantage market or reduce the number of plans they offer. Jessica Dunn, a certified Medicare insurance agent, said her members were surprised by the news. “People are kind of in shock and almost numb,” Dunn said. Carriers such as Anthem, Martin's Point, UnitedHealthcare and WellSense will continue to offer Medicare Advantage plans unchanged. Other companies, such as Aaetna, also plan to scale back their product offerings and availability. >> Download the free WMUR app and get updates on the go: Apple | Google Play
An estimated 44,000 seniors in New Hampshire could see changes to their Medicare Advantage plans starting in 2025.
The changes come after some insurance companies announced they could no longer keep up with rising medical costs.
After January 1, 2025, some companies will exit the Medicare Advantage market or reduce the number of plans they offer.
Jessica Dunn, a certified Medicare insurance agent, said her members were surprised by the news.
“People are in a sense of shock, almost numb,” Dunn said.
Carriers such as Anthem, Martin's Point, UnitedHealthcare, and WellSense will continue to offer Medicare Advantage plans without change.
Other companies, such as Aaetna, scale back product offerings and availability.
>> Download the free WMUR app and get updates on the go: Apple | Google play
Harvard Pilgrim and WellCare will completely stop offering Medicare Advantage plans, while Humana will reduce offerings in some areas but maintain some of its offerings.
“We became aware of this development about three or four weeks ago. We are currently in the process of determining whether to require companies to tell us if they exit in favor of Medicare. “Yes,'' said New Hampshire Insurance Commissioner DJ Bettencourt.
Seniors whose plans are discontinued must choose a new plan to maintain coverage.
“Seniors should be aware that just because they receive a letter or phone call from a Medicare Advantage carrier does not mean that carrier is going out of the market completely. “It could mean that we have to choose who we are,'' Bettencourt said.
Bettencourt said if no action is taken, seniors will be returned to original Medicare, but that may not be the best option for everyone.
Dunn said there are free services available to Granite State residents who need help understanding how to process their health insurance.
“Being able to access a licensed agent who is always there for you to answer your questions is the most valuable information I could give anyone,” she said.
