EVANSVILLE, IN (WFIE) -
Thousands of Tri-Staters are beginning the process of looking for a new insurance provider.
Back in June, 14 News reported Welborn Health Plans was getting out of the group insurance business. But Monday night, we learn thousands of individuals will also be affected.
Many of the people 14 News talked to Monday say they're not even sure if they're affected yet. That's because many are still be notified by mail. But what we're told anyone with a Medicare plan through Welborn Health Plans will lose their coverage at the end of the year.
"We're already receiving phone calls because people are worried, their concerned, they don't know what to do. They've never had to make a transition before," said Drew Shockley.
Shockley, with Crosspointe Insurance Advisors, says nearly 4,000 Welborn customers are now faced with making a transition from their current Welborn plan to one with another company. All before Welborn Health Plans gets out of the insurance business on December 31st.
"If they don't make a decision, they will revert back to original Medicare and for some people that could be bad," Shockley said.
Some unexpected costs are what Shockely says customers would notice first, especially those who would lose their prescription drug coverage.
"There's not one plan that fits every person so people need to review the options from all the carriers," Shockley said.
There are several options available. Medicare released its new plans Monday morning and set an open enrollment for October 15th through December 7th.
"But, if you are losing your plan due to it non-renewing, then you have an extension called a special election period and that lasts starting December 8th and goes through the end of February," Shockley states.
The bottom line, Shockley says, is if you have a Medicare plan through Welborn Health Plans, you need to start shopping around for a new one.
For a look at the new plans released on Monday by Medicare, click here.
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