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
Annuity News
Health/Employee Benefits News
Life Insurance News