What Plan Consolidation Means for Your Book of Business
Are you aware of the Medicare Advantage plan consolidations happening within your book of business and the impact this will have on your clients?
Each year carriers analyze their Medicare Advantage products and make decisions on which to keep and which to eliminate. In most cases when a plan is eliminated, the members in that plan are cross-walked (automatically moved from one plan into another plan). That can mean significant benefit or rate changes for your clients. If one of your clients is impacted you should evaluate the new plan and rates to determine if it is still the right plan for your client. When the Annual Notice of Change (ANOC) is sent to your clients on October 1st, they are informed of these types of changes so you may have already received phone calls. For 2021, there are 227 plans being terminated and cross-walked into new plans.
For a list of all MA, MAPD, and PDP plans being consolidated in 2021, as well as what options you may have, contact your Broker Sales Specialist. They can help you figure out what options are available if your client needs to switch to a new plan for 2021.
