Vermont Medicare Advantage Plans by MVP and WellCare Set to Cease Operations

Two Medicare Advantage plans, operated by MVP and WellCare, will terminate their services in Vermont by January 2025, impacting about 6,000 residents who will need to find new insurance coverage. This decision aligns with a nationwide trend of insurers reducing Medicare Advantage offerings. MVP cited financial challenges stemming from increased medical usage and regulatory changes as reasons for their decision. While their plans will still be available in some northern New York counties, the loss of these plans in Vermont represents a contraction of the local Medicare Advantage market. Currently, Vermont has approximately 54,000 individuals enrolled in various Medicare Advantage plans, though uptake in the state remains lower than the national average.