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Humana and UnitedHealth cut Medicare Advantage plans in 2027
The plan pullbacks include Humana exiting three states and 194 counties, affecting about 500,000 members.
Humana is exiting some Medicare Advantage plans for next year, a move driven by high costs and slimmer profit margins in certain markets, according to comments from the company’s CFO, Celeste Mellet, as covered by Yahoo Finance.
Yahoo Finance reports that Humana’s downsizing will extend to three states and 194 counties, impacting around 500,000 members. The outlet also notes it is the second consecutive year that Humana has reduced its plan footprint.
UnitedHealthcare will also jettison Medicare Advantage plans, affecting more than 600,000 seniors, according to Yahoo Finance.
Research cited by Yahoo Finance from KFF indicates the share of Medicare Advantage enrollees who faced terminated plans this year reached 60% or higher in Wyoming, South Dakota, New Hampshire, North Dakota, and Vermont. The outlet adds that more than 35 million people are currently enrolled in Medicare Advantage, about 55% of eligible Medicare beneficiaries nationwide, and that providers often adjust benefits or cost-sharing as costs rise.