Some advice from WSJ on selecting Medicare plans.
In past years, most older people just stuck with their existing Medicare drug plan or Medicare Advantage plan during open enrollment, avoiding the dizzying experience of choosing a new one. In the latest annual enrollment period, which began this week, they might want to think again. Many people with Medicare Advantage plans may have no choice but to seek out a new option. That’s because insurers including UnitedHealth Group Inc. and WellCare Health Plans Inc. are eliminating a number of their plans in response to government cutbacks and new requirements. If the 667,000 enrollees affected by the cancellations don’t select a new plan by Dec. 31, they will be placed automatically in traditional Medicare. They also have until Jan. 31 to select a drug plan, or risk losing drug coverage in 2010. – From WSJ