Data released for the 2019-2020 financial year showed that the state penalized managed care plans for several million dollars related to breach of contract issues and other problems.
Just one year of records shows dozens of Medicaid violations
Florida’s Agency for Health Care Administration went into detail about 13 Medicaid managed plans, a Medicaid specialty plan, and three dental plans that all failed to follow contract terms.
The Staywell Health Plan, which is the largest managed care plan in the state, had 24 sanctions which was the most out of all programs based on the fiscal records. This company alone paid almost $700,000 in liquidated damages for breaches of contract. There were a number of problems related to inaccurate reporting and network payments from this company.
There are a total of 13 companies that Florida uses to provide Medicaid services to the poor, retirees, and others in need. There are also companies that deal with special needs, such as those with AIDS or disabilities, as well as managed dental plans that are available to certain individuals who qualify.
Protecting your interests with Medicaid planning
News items such as this show why Medicaid planning is important. It is also crucial to supplement your medicaid planning with appropriate legal advice. Many people plan their retirements and healthcare needs based on Medicaid, along with assistance from social security and savings. However, the resources of the program can be inadequate at times, and costly mistakes are often made.
The limitations of Medicaid
Certain expenses that become common in old age such as retirement in an assisted living facility or long term medical treatment can be too expensive to handle. A person’s savings and insurance coverage can be insufficient for these expenses unless their retirement and spending has been very carefully managed.
Financial instruments that protect family members
Many people assume that drafting a will with a lawyer will be sufficient to protect their heirs and distribute their assets. However, if the person who created the will suddenly loses most of their money due to medical treatment, unforeseen health problems, and retirement expenses, there may be little or nothing left to distribute at the time of death. Working with a professional to create an estate plan during life is one way to avoid this problem.
Trusts and other legal instruments can be used to start to distribute money and property, even while the person who created the trust is still alive. The terms of these documents can also be changed as time progresses, because they are not merely used one time like a will.
Get help with estate planning issues in Florida
Careful planning is necessary to protect your family’s assets and inheritance. To speak with an attorney about medicaid, estate planning, wills, and related issues, contact:
850 NW Federal Highway, #1004, Stuart, FL 34994