UCare is looking to suspend its Medicare Advantage offerings, the insurer announced Thursday.
UCare, a Minneapolis-based health insurance nonprofit, made a request to the Centers for Medicare and Medicaid Services “to mutually terminate its Medicare Advantage product offerings for 2026,” according to a news release from the insurer.
“This decision was not made lightly,” said Hilary Marden-Resnik, UCare president and CEO, in the release. “UCare remains deeply committed to the health of Minnesotans and to supporting members through upcoming transitions.”
UCare currently has 158,000 Medicare Advantage members and is the second-largest Medicare Advantage carrier in the market with 26% market share, according to the release.
The nonprofit cites the cost of health care and increasing challenges of the overall market in its decision. “To maintain financial stability and continue providing quality, affordable coverage, UCare is aiming to focus its resources on programs where it can have the most impact,” the release states.
Pending approval of the request, impacted members would need to select new coverage during the upcoming annual enrollment period. Medical Assistance (Medicaid), MinnesotaCare, Special Needs Plans, individual and family plans and Medicare Supplement will still be offered.
The change will affect 9% of UCare’s workforce, per the release.
Thursday’s announcement comes just two months after the insurer announced its plans to withdraw from non-senior Medicaid coverage in Ramsey County and 11 others, affecting 88,000 members.
Founded in 1984 by physicians from the University of Minnesota, today UCare serves more than 600,000 members throughout Minnesota and parts of western Wisconsin.
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