Report: UnitedHealth Drops Thousands Of Doctors From Insurance Plans (Medicare Advantage Plans) [View all]

[FarCenter]

(Reuters) - UnitedHealth Group <UNH.N> dropped thousands of doctors from its networks in recent weeks, leaving many elderly patients unsure whether they need to switch plans to continue seeing their doctors, the Wall Street Journal reported on Friday.

The insurer said in October that underfunding of Medicare Advantage plans for the elderly could not be fully offset by the company's other healthcare business. The company also reported spending more healthcare premiums on medical claims in the third quarter, due mainly to government cuts to payments for Medicare Advantage services.

The Journal report said that doctors in at least 10 states were notified of being laid off the plans, some citing "significant changes and pressures in the healthcare environment." According to the notices, the terminations can be appealed within 30 days.

Read more: http://www.businessinsider.com/unitedhealth-drops-thousands-of-doctors-from-insurance-plans-2013-11