Quote:
Originally Posted by mtdjed
Maybe I am missing the point, but a Medicare Advantage plan can be closed down. Take in case the Physicians United Plan (PUP) which became insolvent.
An article in 2014
"Physicians United Plan, a Medicare Advantage plan with more than 6,200 members in Marion County, is in the process of being closed.
A circuit judge in Leon County has approved having the state take over the plan and liquidate it. State officials said the plan is insolvent.
|
Any plan, Advantage or Supplemental can be terminated if the issuing company becomes insolvent. I have had Florida Blue Advantage plan for 6+ years. I do believe there is less chance of insolvency when you deal with a larger company that has a track record for decades of healthcare reliability. The Advantage Plans coverages, cost, participating psycians, and hospitals can change from year to year. That is why every year during the enrollment period I re-analyze all of the above mentioned factors so if a change is necessary there will be time to do so.