Impact of Medicare Advantage Cuts on Seniors in Oregon

Understanding the Impact of Medicare Advantage Reductions

Thousands of seniors in Oregon are facing abrupt losses in their Medicare Advantage coverage as about 25% of plans are set to vanish by 2025. Major insurers, struggling with economic pressures, are pulling out from the market. This shift has been catalyzed by changes initiated under the Inflation Reduction Act (IRA), which has diminished payment rates and imposed new financial burdens on insurers.

Medicare Plan Availability in Oregon

In Oregon, significant names in the insurance industry such as Moda Health and Summit Health have announced the withdrawal of their Medicare Advantage plans. Additionally, Regence BlueCross BlueShield of Oregon, Aetna, and PacificSource will also scale back their offerings, creating a significant gap in accessible healthcare for seniors. The Centers for Medicare & Medicaid Services predicts that over 12,000 residents will need to seek new health care coverage as a consequence.

Counties Most Impacted

• Curry County
• Harney County
• Lake County
• Umatilla County
• Union County

These counties face a complete lack of available Medicare Advantage plans, compelling residents to revert to original Medicare. In contrast, areas like Coos County will have only one option to choose from in 2025.

As the insurance landscape transforms, many seniors will have to adapt to these challenges to maintain their health services.