A health insurance company unit has set up a subsidiary in Florida that will focus on writing and selling long term care insurance.
MedAmerica Insurance Company, a unit of Lifetime Healthcare Inc., Rochester, N.Y., has formed MedAmerica Insurance Company of Florida, Winter Park, Fla.
Lifetime is the parent of Excellus Blue Cross Blue Shield in New York state, and the MedAmerica unit is known for selling the Simplicity family of LTC insurance.
MedAmerica is setting up a Florida subsidiary to take advantage of the LTC insurance market opportunities in that state, MedAmerica says.
The new Florida subsidiary will assume existing MedAmerica contracts issued in Florida. That change will have no effect on coverage or premiums, MedAmerica says.