Headlines related to the Affordable Care Act and the new healthcare and insurance landscape seem to change more often than the weather. But one thing seems certain in its uncertainty: The future of Medicare Advantage plans.
A recent online article stated that, “Because of the Patient Protection and Affordable Care Act, seniors enrolled in Medicare Advantage plans are paying higher premiums and experiencing a reduction in benefits and disrupted coverage. And that’s just the beginning.”
According to America’s Health Insurance Plans (AHIP), the national trade association representing the health insurance industry, cuts already imposed on Medicare Advantage insurers by the federal government will hit senior citizens even harder over the next year and a half. The ACA includes more than $200 billion in Medicare Advantage payment cuts, most of which have not yet gone into effect, as well as a new health insurance tax starting in 2014.
As if that wasn’t enough to frustrate the populace on both sides of the issue, thousands of doctors continue to be dropped from MA networks by MA insurers trying to save money. Hence, there are lots of seniors out there facing an uncertain future in terms of their healthcare coverage.
However, as reputable insurance producers, we can still make lemonade with all these lemons we’ve been handed. The Medicare Advantage Dis-enrollment Period will continue to disenchant our seniors and cause them to return to Original Medicare in order to purchase a Medicare Supplement plan.
So here’s my advice to my fellow agents: Offer these senior citizens a quality Medicare Supplement, and they won’t need to worry about reduced benefits, canceled coverage, network changes, or, most importantly, taking their business elsewhere.