FamilyCare receives CMS approval to terminate its MA plan
In an email to stakeholders, the Oregon Division of Financial Regulation announced that FamilyCare had received approval to voluntarily terminate its Medicare Advantage plan in mid-plan year. The termination would be effective July 1. From the OHA email:
Medicare Advantage plans provide Medicare benefits to consumers, and are offered by private insurance companies. FamilyCare Medicare Advantage plan members must choose a new Medicare Advantage plan by July 31.
Individuals who do not choose a new plan will be placed in Original Medicare, and receive prescription drug coverage through Envision Insurance Company.
For Medicaid beneficiaries that have dual eligibility for Medicare, those members will need to contact their local Aging and Disabilities Office for help with finding a new Medicare Advantage plan.