7 payers exiting Medicare Advantage markets in 2025

https://www.beckerspayer.com/payer/5-payers-exiting-medicare-advantage-markets-in-2025.html

Seven insurers are exiting Medicare Advantage markets in 2025, a number that is likely to grow in the fall.

There are 3,959 Medicare Advantage plans available nationwide in 2024. The average number of plans available to beneficiaries is 43, unchanged from 2023. 

Seven insurers exiting Medicare Advantage markets in 2025: 

BCBS Arizona will not offer MA prescription drug plans in Arizona in 2025, Becker’s confirmed.

Centene will exit a handful of unspecified Medicare Advantage markets, CEO Sarah London said July 26. 

Clear Spring Health will withdraw its Medicare Advantage prescription drug plans from South Carolina and Virginia, Becker’s confirmed. The company will still offer plans in Illinois, Georgia (MAPD), and Colorado.

BCBS Kansas City is exiting the Medicare Advantage market at the end of 2024, citing increasing regulatory requirements and financial headwinds. 

Aetna is bracing to lose up to 10% of its 4.2 million Medicare Advantage members next year as it prioritizes profitability and exits an unknown number of counties where it believes it can’t be profitable, executives said in May.

Humana expects to exit unspecified Medicare Advantage markets in 2025 and see a membership decline, company executives told investors in April.

Cigna Group reached a deal to sell its Medicare business to Health Care Service Corp. for $3.3 billion in January. The deal is expected to close in the first quarter of 2025 and includes 596,977 MA members, 450,000 Medicare supplement members and 2.5 million members in part D plans. 

Filed under: General Problems