More than 3 Million Medicare Advantage Enrollees Need to Find New Plans for 2027 in Third Year of Turmoil
Insurers are terminating plans and trimming benefits as medical costs rise, with more than 3.2 million enrollees needing new coverage for 2027.
- On Thursday, Medicare Advantage open enrollment for 2027 coverage began, forcing nearly 3.2 million enrollees to shop for new policies after insurers terminated their plans.
- Health insurers are overhauling offerings as medical costs outpace federal reimbursements; the discontinuation of a Biden-era subsidy has further strained Medicare Advantage plan finances.
- Major insurers including UnitedHealthcare and Humana are discontinuing plans for nearly 1 million beneficiaries, while 70% of enrollees face increased out-of-pocket caps and deductibles jump 23% to $509.
- The Centers for Medicare & Medicaid Services upgraded the Medicare Plan Finder website, allowing beneficiaries to verify which Advantage plans accept specific licensed healthcare providers.
- With the open enrollment deadline set for December 7, insurers estimate total enrollment may drop to 34 million people in 2027, representing 47.4% of Medicare participation.
13 Articles
13 Articles
Less health insurance plans. Higher pocket expenses. Fewer supplemental benefits.
More than 3 million Medicare Advantage enrollees need to find new plans for 2027 in third year of turmoil
By Tami Luhby, CNN (CNN) — Fewer health insurance plans. Higher out-of-pocket costs. Skimpier supplemental benefits. This upheaval is what senior citizens will have to contend with when Medicare Advantage open enrollment for 2027 coverage begins on Thursday. That’s why it’s even more important that enrollees review their plan options so they aren’t hit with unexpected bills and other surprises next year, experts say. Medicare Advantage, which co…
Medicare Advantage plans are shutting down, leaving millions without coverage
Medicare open enrollment starts Thursday, Oct. 15. And for several million seniors across the country it will be especially important. That's because some insurers are shutting their Medicare Advantage plans, especially in rural areas.
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