Roughly 37,000 people could lose their coverage in 2025 as Centene Corp announced it is discontinuing its Medicare Advantage Plans (WellCare) in Alabama, Massachusetts, New Hampshire, New Mexico, Rhode Island, and Vermont.
If you or someone you know is enrolled in one of these affected plans, it’s crucial to take action as soon as possible. If you don’t do anything, your Medicare Advantage plan will be discontinued on January 1, 2025, leaving you without coverage.
So — why is Centene Corp exiting Medicare Advantage markets, who is affected, and how can you transition into another plan? Read on to learn the answers.
Why Centene Corp is Dropping WellCare Medicare Advantage Plans
2025 is shaping up to be a difficult year for Medicare Advantage Plans. Aside from Centene Corp, other insurance companies like Aetna, Humana, BlueCross BlueShield, and others are also dropping Medicare Advantage Plans in several areas.
This comes after the CMS released more regulations for Medicare Advantage Plans in 2025, including a funding cut. The new regulations, paired with rising medical costs, are hitting insurance companies’ bottom line, which is causing them to drop their Medicare Advantage Plans in selected markets.
On July 26, Centene Corp CEO Sarah London explained that Centene Corp is dropping Medicare Advantage Plans in several states to focus on Medicare Advantage Plans for Medicaid beneficiaries. She also stated that Centene Corp’s goal is to increase its star ratings for its Medicare Advantage Plans.
4 Step You Can Take to Prepare For These Changes
Step #1: Confirm You’re Losing Your Plan
Only people enrolled in Centene Corp’s Medicare Advantage Plans in Alabama Massachusetts, New Hampshire, New Mexico, Rhode Island, and Vermont will be affected by this change.
If you’re enrolled in a Centene Corp prescription drug plan only, or if you have a Centene Corp Medicare Advantage Plan in a state not listed above, you shouldn’t be impacted.
If you are affected, Centene Corp should send you a notice that your plan will be discontinuing in 2025. If you don’t receive a notice and want to make sure, you can call your insurance company for confirmation.
Of course, you can also call us directly at +1 877-360-6565 (TTY: 771) and we’ll look into it for you. As licensed insurance agents, we can walk you through your options — and it doesn’t cost you anything to work with us.
Step #2: Shop For Plans During the Annual Enrollment Period
Something important to know: If your plan is being discontinued in 2025, you can switch to another plan during the Annual Enrollment Period, which lasts from October 15 to December 7.
During this time, you’re able to change to another Medicare Advantage Plan available in your area. Any plan you enroll in during this period will take effect on January 1 the following year.
If you don’t switch plans during the Annual Enrollment Period, you’ll lose your Medicare Advantage coverage and revert back to Original Medicare on January 1 2025.
You may also have to wait until the next Annual Enrollment Period in order to enroll in another Medicare Advantage Plan.
Note: you can switch between several plans during the Annual Enrollment Period. Whatever the last plan you enroll in before the window closes is the one you’ll have for 2025.
Step #3: Consider a Medicare Supplement Plan
If your Medicare Advantage Plan is leaving the market in 2025, you could enroll in a Medicare Supplement Plan A, B, C, D, F, G, K, or L without undergoing medical underwriting. This is because if your Medicare Advantage Plan drops out of Medicare, you qualify for guaranteed issue rights for these eight Medicare Supplement Plans.
You may do this 60 days before your Medicare Advantage Plan’s coverage ends, and up to 63 days after your Medicare Advantage Plan’s coverage ends.
Step #4: Talk to Contact a Licensed Insurance Agent for Help
If you’re confused or anxious about your plan leaving Medicare, or if you need help comparing your options in your area, you can contact a licensed insurance agent for help.
An unbiased licensed insurance agent should help you understand all your options and help you find the right plan fit for you in 2025. Licensed insurance agents can also help you avoid potential pitfalls during this uncertain time of uncertainty.
Seeing that licensed insurance agents are paid by commission, you can get their services at no cost to you. So if you need assistance, feel free to call or text us at +1 877-360-6565 (TTY: 771).
Conclusion – Don’t Panic!
These are unprecedented times in Medicare, and learning that you’re losing your Medicare Advantage Plan coverage can be scary.
However, if you stay calm and follow the steps above, you should enjoy a smooth transition into a new Medicare plan for 2025.
So don’t panic, study your options, and you’ll end up finding the best plan fit for you!