Sunday, February 18, 2018
Business

Regulators outline liquidation plan for Universal Health Care

ST. PETERSBURG — Bob Buchanan, a 77-year-old retiree in New Port Richey, got a jolt when his favorite primary-care physician said he would no longer honor his Universal Health Care coverage.

Likewise, Universal member Joan Diamond of Apollo Beach worries about who will cover her when she goes in for eye surgery.

"I'm in my 80s, and stuff like this really throws me for a loop," she said.

Their saga is quickly coming to a close.

Florida regulators on Friday unveiled their fast-track plan to liquidate Universal Health Care Group by the end of the month, dispatching its 140,000 members to other health plans and putting hundreds of Universal employees out of work. As of earlier this year, Universal had nearly 1,000 employees, most of them at its St. Petersburg headquarters.

Two related Universal companies are slated to automatically go into liquidation at 12:01 a.m. April 1: Universal Health Care Insurance, which has about 37,500 Medicare policyholders, and Universal Health Care Inc., an HMO with about 60,000 Medicaid members and 40,000 Medicare members.

Separately, the Florida Agency for Health Care Administration said it is reassigning the approximately 57,000 Medicaid recipients who are enrolled in Universal to other health plans.

"The agency has made every effort to ensure that recipients will be assigned to a plan that will allow them to have the same primary-care physician," AHCA Secretary Elizabeth Dudek said in a statement.

Over the next week, Medicare and Medicaid members who were in either of the two plans will receive letters explaining their options from either AHCA or the federal Centers for Medicare and Medicaid Services.

The state launched a formal investigation into Universal's finances in August, and on Feb. 4 filed suit to take over the insurer, which it had deemed virtually insolvent at the time. State investigators accused Universal executives of a broad pattern of financial mismanagement, including fraud and diversion of funds.

Since then, Universal's status has been in flux as to whether it would be sold or liquidated. Founder and CEO A.K. Desai has maintained control of Universal, albeit losing a stream of both employees and health care providers willing to keep Universal in their network.

Thursday's ruling by a 2nd Circuit Court judge to place Universal into receivership ceded control to the Florida Department of Financial Services.

Buchanan, the New Port Richey Universal member, says he's getting tired of waiting for the state to act and might take matters into his own hands.

"I'm just going to go to Humana," he said, "and I'm done with it."

Jeff Harrington can be reached at [email protected] or (727) 893-8242.

Comments
Here’s how to separate the fund raisers from frauds among gofundme pages

Here’s how to separate the fund raisers from frauds among gofundme pages

Gofundme.com pages proliferated almost as soon as cops took Nikolas Cruz into custody after Wednesday’s 17-death massacre at Marjory Stoneman Douglas High School in Parkland. Donors must parse the funding pages from the fraudulent.Read More: 17 dead,...
Updated: 10 hours ago
Suffolk tops off Manor Riverwalk project

Suffolk tops off Manor Riverwalk project

Building contractor Suffolk topped off the north tower of its Manor Riverwalk project on Friday.The luxury rental community will replace the old Tampa Tribune building at 202 S Parker Street. Once complete, the project will include an eight-story wat...
Updated: 2 hours ago
Trump administration recommends stiff penalties on steel, aluminum imports

Trump administration recommends stiff penalties on steel, aluminum imports

The Tampa arm of Brazilian steelmaker Gerdau S.A. was cautiously optimistic Friday after the Trump administration took a big step toward a policy Gerdau has been vocally advocating for — higher tariffs on imported steel. "We’re hopeful that President...
Published: 02/16/18
Facebook forges ahead with kids app despite expert criticism

Facebook forges ahead with kids app despite expert criticism

Associated PressNEW YORK — Facebook is forging ahead with its messaging app for kids, despite child experts who have pressed the company to shut it down and others who question Facebook’s financial support of some advisers who approved of the app. Me...
Published: 02/16/18
Inexpensive Tampa Bay homes gain the most value of any in U.S.

Inexpensive Tampa Bay homes gain the most value of any in U.S.

Owners of affordable homes in the Tampa Bay region are seeing the biggest gains in equity among the nation’s top 20 housing markets. A bay area home now worth $110,000 rose 20 percent in value over the past year while a house now worth $337,400 incr...
Published: 02/16/18
Amid CareerSource controversy, allegations of a love affair, big raises and family favoritism at the top

Amid CareerSource controversy, allegations of a love affair, big raises and family favoritism at the top

The anonymous letter described a possible love affair at the top of the local jobs center. President and CEO Edward Peachey was in a romantic relationship with top administrator Haley Loeun, it said.It described how Loeun was seen at a conference co...
Published: 02/16/18
Outback Steakhouse, Carrabba’s experimenting with takeout-only locations

Outback Steakhouse, Carrabba’s experimenting with takeout-only locations

Outback Steakhouse and Carrabba’s Italian Grill have become household names in casual dining. Now, their parent company, Tampa-based Bloomin’ Brands is taking the "dining" part out in a concept that it’s bringing to Tampa Bay for the first time. A ne...
Published: 02/16/18
Which Tampa Bay ZIPs had the priciest, least expensive and most house sales in 2017?

Which Tampa Bay ZIPs had the priciest, least expensive and most house sales in 2017?

If you bought or sold a house in Tampa Bay last year, you were a player in one of Florida’s hottest real estate markets.Even though prices eased a bit from their torrid pace in 2016, the median cost of a single family home shot up 11 percent. That’s ...
Published: 02/16/18
Florida’s liquor license lottery can make you a ton of money. So why is it such a secret?

Florida’s liquor license lottery can make you a ton of money. So why is it such a secret?

Every year, millions of people play the Florida Lotto. Their chances of winning are about as great as those of being struck by a comet. Fewer than 12,000 enter a much lesser known lottery that also is run by the state. Yet the odds of winning are vas...
Published: 02/16/18
Travel insurance company brings tree houses, beer kegs and creativity to former church

Travel insurance company brings tree houses, beer kegs and creativity to former church

ST. PETERSBURG — Neither the Lutherans who first occupied the 4300 block of Central Avenue, nor the evangelical congregation that followed could ever have imagined tree houses sprouting in their church sanctuary.Yet that’s one of the plans of new own...
Published: 02/16/18