NEWS: Major Providers Withdrawing from Medicare, Others Raising Coverage Premiums
We've recently learned of some big shakeups from Medicare providers and we want to ensure our clients and neighbors are aware of these changes. Allstate recently surprised us with a series of rapid announcements. First, they notified us they were cutting costs. Within 24 hours, they shut down their agent portal and moved to paper-only applications. Another 24 hours later, they announced their complete withdrawal from the Medicare market.
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Allstate will continue to cover current Medicare clients, but those clients will see substantial premium increases. It seems other insurance companies are following suit and also hiking premium rates, or pulling out of the Medicare marketplace altogether.
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We continue to be committed to helping our clients find coverage that remains affordable and provides sufficient protection.
While everyone’s coverage needs are different, there are a few strategies we can consider:
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Switching to a Plan N
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Considering a Medicare Cost Plan (if available in your area)
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Looking into a Medicare Advantage Plan
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Self-insuring a portion of your medical expenses to help contain costs without sacrificing necessary coverage
We're closely monitoring the situation as it evolves and will keep you informed. Please follow our updates on Facebook and check for updates here on our website.
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In the coming months, we plan to host regional seminars to help explain your options and next steps. In the meantime, please call our office at 785-202-5008 or email us your questions at len@myinsurancecentral.com
-Len and the Insurance Central Team
MEDICARE
Why work with a credentialed broker?
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As credentialed brokers, we work for you, not insurance companies. We’re dedicated to ensuring you receive the best coverage at an affordable price. We have access to a range of insurance options and are not tied to only one insurer.
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We understand Medicare goes beyond the basics. We talk to our clients about their needs and consider plans and supplements that others might overlook, like cost, age-issue, medical savings, and Advantage plans. Every individual and family are different, and we help you compare your coverage options based on your particular circumstances.
We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1–800 MEDICARE to get information on all of your options.