Envision Insurance Company has received first license from the California Department of Managed Health Care for a stand-alone Medicare Part D plan.
Under present California rules, plans which will operate solely as a Medicare Part D prescription drug plan sponsor must receive a specialty license under the Knox-Keene Health Care Service Plan Act of 1975, in order to offer Part D plans in California once federal waivers expire.
The Knox-Keene Act requires plans to meet a number of stringent financial and operational criteria in order to achieve licensure. Envision markets its Part D plans under the trade name EnvisionRx Plus.
Kevin Nagle, president and CEO of Envision, said: Our organization is very pleased to be the first in California to be granted a license as a Medicare Part D only plan. Having taken the lead in seeking this licensure early in the Part D program shows our sincere interest and commitment to the State of California.