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Front Page » FYI Miami » FYI Miami: July 22, 2021

FYI Miami: July 22, 2021

Written by on July 20, 2021

Below are some of the FYIs in this week’s edition. The entire content of this week’s FYIs and Insider sections is available by subscription only. To subscribe click here.

MEDICAID RELIEF: An ordinance related to the Medicaid Hospital Directed Payment Program presented for its first reading to county commissioners Tuesday is now scheduled for a final vote in September. Legislation sponsored by Rene Garcia would help local hospitals cover their hundreds of millions of dollars in unreimbursed Medicaid costs each year. The creation of the directed payment program in the county would allow the generation of federal matching dollars by the affected hospitals. According to the memorandum on the ordinance, medical facilities in Miami-Dade “annually provide $524 million in unreimbursed Medicaid services to persons who qualify for Medicaid. State Medicaid Managed Care Region 11, which includes Miami-Dade County, alone accounts for 23% of the total $2.3 billion shortfall borne by the state’s hospital providers.”

SAILING TO COURT?: Gov. Ron DeSantis said Monday the state probably will ask a full federal appeals court to reimpose a preliminary injunction that would block restrictions on the cruise industry during the Covid-19 pandemic, after a panel of the 11th US Circuit Court of Appeals late Saturday sided with the federal Centers for Disease Control and Prevention and issued a stay of the injunction, which was approved last month by a Tampa-based district judge. Florida Attorney General Ashley Moody, backed by the governor, filed the suit in April, contending the CDC had overstepped its authority in imposing the restrictions. Unless removed, the stay would allow the CDC restrictions to remain in place at least until the appeals court rules on the underlying issues in the case. 

NEW RADISSON BRAND: A new Radisson hotel brand has opened its first Florida location in a building near Northwest South River Drive that was funded partially through job-creating EB-5 immigrant investor financing. The Radisson RED is a brand focused towards millennials. It opened at 3401 NW 25th St. in a $42 million, 157-room property developed, owned and operated by Riviera Point Development Group. Developer CEO Rodrigo Azpúrua said the Radisson RED Miami Airport, his firm’s fourth hotel, used the EB-5 funding plus private equity and Centennial Bank financing. The hotel is marketed as having pet-friendly guest rooms.

BIGGER CITIZENS RATE HIKES: Customers of Citizens Property Insurance Corp. are getting a bigger rate hike than was initially proposed. The average rate increase for new and renewing policies after Aug. 1 will be 2.3%, while renewals after Feb. 1, 2022, are going up 7.6%. Increases vary by location and still require approval from the Office of Insurance Regulation. A new statute that took effect July 1 altered a 2011 law that capped annual increases for Citizens customers at 10%, which means many haven’t been paying actuarially sound rates.