Oxford Halts Medicare Marketing, Enrollment
Oxford Health Plans Inc. said it stopped marketing and most enrollment in its Medicare plans following a federal review that criticized the company. The managed-care firm, which offers coverage to Medicare patients in New York, New Jersey, Connecticut and Pennsylvania, said the action will let it improve its Medicare operations. Oxford said it will use the suspension to develop a plan to comply with contract requirements of the federal Health Care Financing Administration, which audited its Medicare operations in February. Oxford doesn’t expect the suspension, which it said was voluntary, to hurt service to current Medicare members. The Norwalk, Conn.-based company revealed the action in a Securities and Exchange Commission filing. Oxford shares fell 25 cents to close at $16.69 in Nasdaq trading.