2014 MA Plans - Will they be here?
A question many seniors are asking right now is will MA plans be around in 2014? As stated in previous articles Medicare Advantage plans are feeling some hits from the Federal government on their subsidies. With roughly 5 billion dollars spent over the traditional Medicare fee for service costs, Medicare is stating it is more expensive than Original Medicare.
While this is an accurate statement it has many of the 14 million seniors on one of the MA plans very nervous. "I don't want my Medicare Advantage Plan taken away" - states a senior in the Northeast. Other organizations like AHIP have prompted seniors to contact their congress members to tell them to go against these cuts.
When did MA Plans Start?
Under the 2003 MMA, Medicare Advantage Plans were put into place as well as the Part D plans going into effect in 2006. MA Plans can include Part D drug coverage. However, these plans had been seen in the 90's as the Medicare + Choice plan that was dismantled because the plans cost more than Original Medicare. When this plan closed down over 3 million people had to go back to Original Medicare and Medicare Supplement Plans.
What are my options if Medicare Advantage Plans stop in 2014
You have options in fact very good options if this happens. Medicare Supplement Companies are forced to offer guaranteed issue Medicare Supplements if your Medicare Advantage plan pulls out of your service area (for more on guaranteed issue rights). This means that you have no health questions for several different plan options in your state, usually the Plan F Medicare Supplement is always one of these plans.
Our advice is to stay on top of what is happening with MA plans and keep up to date on our blog for up to date Medicare news.
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