Insurance policy termination

November 15 2013

As a retiree on Medicare I was  quite surprised to receive a letter last month from my Insurance company  terminating my Medicare  Advantage plan.  After all Medicare is certainly not  sub standard  and my Advantage plan met and exceeded all of the Affordable Care Act requirements. So obviously the Insurance company decided to take this opportunity to look for additional revenue by changing their plan offerings.  The terminated plan is very popular and recommended by AARP so I'm sure millions of retirees across the country received the same letter. Are we retirees counted in the millions  who were affected?  If so, the statistics are misleading since I was able to access Medicare and find a replacement plan that met my needs within days.

Insurance companies are businesses driven by profit.  It's really no surprise  that they took the opportunity of this market discontinuity and decided to cancel plans so that they could demand  additional revenue and blame it on the ACA.  They had the option to grandfather those substandard plans but their greed exceeded their humanity.  Let's face it, our healthcare system is bogged down by these middlemen and we never really will have full affordable healthcare with them in the system.