BURLINGTON, Vt. (WCAX) – Nearly 1,500 Vermont seniors will be forced to find new health care coverage after another company offering Medicare Advantage plans has opted to pull out of the market.
A Medicare Advantage plan offered by Wellcare, a subsidiary of health care company Centene, will no longer be offered next year.
Wellcare has not explained why but officials administering other plans say low reimbursement rates from the federal government and more people accessing care make it financially untenable to operate in the Green Mountain State.
Vermont Health Care Advocate Mike Fisher says about 1,500 seniors will need to find new plans. “Due to the significant changes that are happening for Medicare Advantage plans here in Vermont, it really makes sense for Vermonters to be extra careful if they’re contemplating buying a Medicare Advantage plan,” he said.
Open enrollment for Medicare is underway right now and runs through December 1.