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Published: February 9, 2008
Updated: 02/08/2008 09:13 pm
TAMPA - A controversial but popular health care plan that came under state scrutiny last year is back in business and looking for new members.
Nearly a year after being placed under state supervision, Universal Health Care Insurance Co. of St. Petersburg said Friday that it has received the green light from state and federal regulators to resume marketing its Any, Any, Any insurance plan, a Medicare program.
The plan is so named because it tells members they can see any doctor, anywhere, any time. Any doctor or hospital, however, can choose not to accept the insurance plan.
The plan has about 40,000 members, down from almost 80,000 at the end of March.
Under pressure from the Florida Office of Insurance Regulation, the company stopped marketing the plan in February 2007.
Florida Insurance Commissioner Kevin McCarty said at the time the plan was underfunded and didn't meet state requirements. A month later, McCarty declared Universal insolvent and moved to place the company under state receivership.
Universal blocked that action by filing suit. The regulatory scrutiny and other issues resulted in thousands dropping the plan last year.
Last month, McCarty reached a settlement with the company. Universal paid $450,000 in fines and court costs and agreed to keep on hand a surplus of $116 million.
On Thursday, Universal won clearance from the federal Centers for Medicare and Medicaid Service to again market the plan.
"We went through an extensive evaluation by CMS about the marketing practices," said Akshay Desai, chief executive officer of the company.
Desai said the government approval is good news "for thousands of seniors waiting to enroll" in the plan.
"Despite our late start, we would expect a successful enrollment period because the plan is very popular with seniors," he said.
Reporter Russell Ray can be reached at (813) 259-7870 or rray@tampatrib.com.
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