Many Medicare beneficiaries enrolled in th Advantra Freedom plan last year,and, while it was a good plan it has left many seniors dissapointed and scrambling to find a new plan with similar benefits at a low cost.
There is good news and bad news. First the bad.
- You can blame this on your congressmen, senators, and yes even the president. The funding for medicare and Medicare has been drastically cut causing some companies to raise rates and lower benefits. Other companies have simply decided to drop out of the market (which produces less competition). I would suggest writing a letter to your congressman or senator.
- The insurance companies receive a subsidy to provide these additional services, however , while the cost of healthcare has risen over 5% the subsidies have increased less than 1%.
- The Part D formularies that are regulated by the government have been trimmed down to include less drugs and more tiers to allow for higher co-pays
Now for the good news:
- Since there are less companies in the market it is a bit easier to weed through the less appealing plans and narrow down your choices.
- There are still some good plans and companies left out there and you will be pleasantly surprised that some of these plans may even offer better plans than you had before.
So don’t worry if your 2009 plan is withdrawing from the market. Simply start looking now or find a broker to help you as we usually recommend since they have a great deal of knowledge in this area and can help you avoid a costly mistake visit http://www.todaysmedicare.com for further tips and help