Dec. 20--Thousands of seniors on Medicare plans offered by Florida Healthcare Plus will need to pick new coverage next month. A circuit court judge in Tallahassee has ordered the Coral Gables-based company into receivership and liquidated by Jan. 1.
Florida Healthcare Plus has four Medicare Advantage plans in South Florida, serving about 1,330 Broward County residents and about 2,210 Palm Beach County residents. Officials with the Centers for Medicare & Medicaid Services said those members can join another Medicare Advantage plan between now and Feb. 28.
During this special enrollment period, seniors also can choose to return to traditional Medicare. Under this option, those wanting drug coverage must enroll in a stand-alone Part D prescription plan or buy a Medigap insurance supplement.
Florida Healthcare Plus members who do nothing will automatically be enrolled in traditional Medicare effective Jan. 1, so they would not lose coverage. Those whose Florida Healthcare plans also included drug coverage would be placed in a Humana Preferred Rx prescription plan, federal officials said.
Out-of-pocket costs will vary according to which option members pick.
Anyone who needs help sorting out choices can contact Florida's Serving Health Insurance Needs of Elders (SHINE) program, staffed by volunteered counselors. Call 800-963-5337, or go to floridashine.org. Contact Medicare at 800-633-4227, or go to medicare.gov.
Advisor News
- What to discuss during the first retirement planning meeting
- Inflation, competing priorities and uncertainty erode retirement security
- As health premiums rise, 1 in 8 workers cut retirement savings
- CT governor’s candidates claims: What’s true, and what’s misleading
- Retaining clients by giving them a memorable experience
More Advisor NewsAnnuity News
- National Life Group expands annuity portfolio
- AM Best to Join Life/Annuity Insurance-Focused Panel Discussion at Capitol Forum Event
- USAA Earns No. 1 Ranking in JD Power Individual Annuity Study for the Third Consecutive Year
- How flexible annuities fit today’s retirement portfolios
- Foresters Financial appoints Tom Ross as chief distribution officer for U.S. annuity sales
More Annuity NewsHealth/Employee Benefits News
- Medicare Plus supplement vs. Medicare Advantage (Maybe) 2026– Healthful Hints
- ‘Medically frail’ Medicaid enrollees won’t have to prove their inability to work to keep coverage
- IMPLEMENTATION OF IMMIGRANT ELIGIBILITY RESTRICTIONS FOR ACA MARKETPLACE SUBSIDIES UNDER THE 2025 RECONCILIATION LAW: ISSUES TO CONSIDER
- ACA HEALTH INSURANCE RATES RELEASED FOR 2027 OPEN ENROLLMENT
- HEALTH INSURERS AND PHARMACY BENEFIT MANAGERS URGED TO ASSIST FAMILIES AFFECTED BY LULU M. ROSS ELEMENTARY SCHOOL FIRE
More Health/Employee Benefits NewsLife Insurance News