By October 1, at least two million seniors will get alarming notices: Their health plans — which they got through Medicare Advantage, the version of Medicare run by private insurance companies — will disappear at the end of the year.  

Many of them will be stuck without a lot of options. In some cases, no other companies in their area may offer Medicare Advantage plans to replace them.

Almost three million seniors got stuck in similar situations last year, and experts say the scenario will likely keep playing out for years to come. 

For years, critics have warned that Medicare Advantage plans expose seniors to big risks: The insurance company can decline to cover meds and treatment. And when they do approve treatments, finding a provider who takes your plan can be a huge challenge.

Now, there’s a new and growing risk: Those plans could disappear, without a viable replacement.

In this episode, we take a close look at the fallout in one state: Minnesota, where the collapse of a major Medicare Advantage carrier last year led to “total chaos,” according to the director of the state’s Medicare assistance agency — and where everyday heroes stepped up to support one another.

Plus, we zoom out to look at how private health insurance companies have enmeshed themselves into Medicare as a whole, how that’s affecting the choices in front of us, and what we might do about it. 

Looking for help with Medicare?

• Find your state’s SHIP chapter.
• Check out our previous episode on Medicare vs. Medicare Advantage. 
• Read about Medicare pitfalls to avoid: Part One and Part Two

Here's a transcript of this episode. 

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Reporting for this story was supported in part by Arnold Ventures. 

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