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Press Release

Insurance Commissioner McCarty Orders Insurers to Use Current Medicare Rates to Comply with Recent Legislation
Thursday, October 08, 2009
Contact Info:

Jack McDermott                             Tom Zutell
850-413-2515                                850-413-2515
Jack.McDermott@floir.com              Tom.Zutell@floir.com

TALLAHASSEE, Fla. – Insurance Commissioner Kevin McCarty today issued orders to insurance companies that have not had approved new rates to comply with recent legislation that requires insurers to offer Medicare supplement policies for individuals under 65 years of age who are eligible for and enrolled in Medicare by reason of disability or end-stage renal disease.
 
The legislation, House Bill 675, Chapter 2009-141, Laws of Florida, required companies to begin offering this coverage to eligible persons under 65 years of age on Oct. 1, 2009.  The orders sent today require companies that have not yet filed rates or had their rates approved for this new coverage to use their current rates in place for the same Medicare coverage offered for those 65 years of age. This measure will ensure coverage is offered to those under 65 until the companies file and obtain approval of their new rates.
 
“The bill was signed into law in June and clearly states this coverage will be made available to Floridians under age 65,” remarked Commissioner Kevin McCarty. “Companies should have filed the new rate for this coverage well in advance of the October 1 open enrollment date. There is no excuse for not offering the coverage.”
 
The enrollment period will be for six months. The Office of Insurance Regulation sent an Informational Memorandum on Aug. 12 to all Life and Health Insurers and provided notification of House Bill 675 and the changes made to Sections 627.671 and 627.6741, Florida Statutes.
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Contact Info:

Jack McDermott                             Tom Zutell
850-413-2515                                850-413-2515
Jack.McDermott@floir.com              Tom.Zutell@floir.com

About the Florida Office of Insurance Regulation
The Florida Office of Insurance Regulation (Office) has primary responsibility for regulation, compliance and enforcement of statutes related to the business of insurance and the monitoring of industry markets. For more information about the Office, please visit www.floir.com or follow us on Twitter @FLOIR_comm.

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