BURLINGTON, Vt. (WCAX) – About 1,500 Vermont seniors will be forced to find new health insurance after another company offering Medicare Advantage plans leaves the market.
Medicare Advantage plans offered by WellCare, a subsidiary of healthcare company Centene, will no longer be offered next year.
WellCare hasn't said why, but officials managing other plans say low federal reimbursement rates and a growing number of people using care have led to a decline in operations in the Green Mountain State. states that it is no longer financially sustainable.
Vermont health care advocate Mike Fisher says about 1,500 seniors will need to find new plans. “There are major changes happening with Medicare Advantage plans here in Vermont, so it makes a lot of sense for Vermonters to be especially careful when considering purchasing a Medicare Advantage plan,” he said. .
WellCare is the second plan to pull out of Vermont after UVM Health Advantage recently made a similar announcement.
Open enrollment in Medicare is currently underway and will continue through December 1st.
The Senior Help Line number is 800-642-5119.
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