The enrollment period for Medicare supplemental insurance is underway and many residents will discover there aren’t as many choices.
Major insurance carriers are pulling out of the market because of cost-shifting included in the Biden Era Inflation Reduction Act.
The cost-shifting provisions didn’t start taking effect until last year.
Long-time supplemental insurance agent Jeff Schwebach of Dell Rapids says the change is hitting the market hard. “Walmart no longer offers an Advantage plan,” said Schwebach. “Start for next year. Humana does not offer any to us anymore. UnitedHealthcare only offers the dual-eligible, that Medicaid-Medicare plan. And so that’s about our only option. The landscape has just absolutely been decimated and it all stems from that that bill.”
The enrollment period started Thursday and runs through December 7th.
Thanks KELO-AM Radio