|Name of Company:||Physicians United Plan, Inc.|
|date of rehabilitation:||June 9, 2014|
|Date of Liquidation:||July 1, 2014|
|Claims Filing Deadline:||June 9, 2015|
|Type of Coverage:||Health Maintenance Organization|
|State of Domicile:||Florida|
|status of receivership:||Liquidation|
Notice of Receivership
On June 9, 2014, Physicians United Plan, Inc. (“PUP”) was ordered into receivership for purposes of rehabilitation by Judge Charles A. Francis of the Second Judicial Circuit Court in Leon County, Florida. The Florida Department of Financial Services is the court appointed Receiver of PUP. PUP was ordered liquidated effective July 1, 2014.
PUP was a health maintenance organization that obtained its Florida license in 2005 and began operations in January 2006. Headquartered in Orlando, Florida, PUP was a Medicare Advantage Prescription Drug HMO of approximately 50,000 Medicare subscribers. Medicare premiums and contracts are administered through a federal agency, the Centers for Medicare and Medicaid Services (“CMS”).
As a result of the liquidation of Physicians United Plan, Inc. (PUP) and termination of its contract with CMS, CMS retroactively enrolled all PUP members into Original Medicare Fee-for-Service (FFS) and a Prescription Drug Plan (PDP) effective June 1, 2014.
SPECIAL ELECTION PERIOD:
As a result of the receivership of PUP, all beneficiaries enrolled in PUP had a Special Election Period until August 31, 2014 to enroll in a plan of their choosing. All dual eligible or those eligible for the Low Income Subsidy could have enrolled in another plan at any time. A beneficiary who selected another Medicare Advantage or Medicare Advantage-Prescription Drug plan was covered under the new plan effective the first day of the next month after they enrolled. P
JULY 1, 2014 LIQUIDATION OF PUP HEALTH PLAN, INC.:
PUP was ordered liquidated effective 12:01 a.m. on July 1, 2014.