Insurance companies dump seniors on Medicare

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High Five
Friday, October 08, 2010

Private health insurance companies are exiting Medicare, forcing 25,000 retirees and others to find alternative coverage.

The change could raise costs to consumers significantly.

Companies across the country are leaving the market as a result of a federal law passed in 2008, which requires so-called private fee-for-service plans to meet the same requirements as HMOs and preferred-provider organizations, or PPOs, serving Medicare enrollees. Everyone affected in Oregon will have the option of enrolling in another private health plan, but monthly costs may be substantially higher and choices limited for those in rural counties, according to Oregon's Senior Health Insurance Benefits Assistance program.

"All will have at least one other option, but for many folks, it may not be an affordable option," said Lisa Emerson, manager of the state's Senior Health Insurance Benefits Assistance program.

Read more at OregonLive.com.

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