healthinsurance Flashcards

Terms Definitions
Prefered Provider Organization
Federally sponsored health insurance and medical program for persons 65 or older, administered under provisions of the Social Security Act
Traditional Indemnity Plan
Fee for service
nonprofit, recieves adverse medical information from insurance companies
the realtie incidence of disability due to sickness or accident within a given group
the insurer's approval od an insured's emtering a hospital. Many health policies require precertificationh as part of an effort to control costs
head of the insurance department public officer charged with supervising the insurance laws. Called superintendent in some states director in other
health insurance
insurance against loss through sickness or accidental bodily injury also called accident and health, accident and sickness and sickness accident or disability insurance
capital sum
amount provided for accidental dismemberment or loss of eyesight. Indemnities for loss of one one member or sight or one eyue are percentagesof the capital sum
reciprocal insurer
insurance company characterised by the fact its policy holders insure teh risk of other policy holders
alien insurer
company incorporated or organzied under th laws of any foreign nation, providence or territory
Proper solicitation
High professional standards that require an agent to identify himself properloy that is an agent soliciting insurance on behalf of an insurance company
feature of insurance contracts in that there ins an element of chance for both parties taht the dollar given by the policy holder premiums and the insurer benefits may not be equal
guaranteed insurability
Arrangement usually provided by rider, whereby additional insurance may be purchased at various times without evidence of insurability
industrial insurance
life insurance policy providing modest benefits and a relatiely short benefit period. Premiums are collected on a weekly basis by an agent calling at insured's home
HMOs are known for stressing preventive care, with their subscribers paying a fixed periodic fee in advance.
Preexisting conditions are referred to in which of the following health policy areas?
Insuring clause?
returnign part of the commisson of giving anything else of value to the insured as an inducementh to buy the policy. It is illegal and can cause for license revocation in most states. In some states it is an offense by both the agent and the person receiving the rebate.
Proof of loss
a mandatory health insurance provision stating that insured must provide a completed claim form to the insurer within 90 days of the date of loss
Which policies are required to coordinate benefits?
Group policies
A business overhead expense policy includes all of the following except
employers income
Act of making issuing circulating or causing to be issued or circulated an estimate, illustration, circular o statement of any kind that does not represent the correct policy terms, dividends or share of surplus or the name or title or any policy or class of policies that doesn to in fact reflect its true nature
ambulatory surgery
surgery performed on an outpatient basis
specified hazards listed in a polidy for which benefits will not be paid
premium factors
the three primary factors considered when computing the basic premium for insurance is mortality,expense and interest
Health maintenance organization
Health care management stressing preventive health care, early diagnois and treatment on an outpatient basis. Persons generally enroll voluntarily by paying a fixed fee periodically
provides medical care for the needed under joint federal state participation
preferred risks
a risk whose phsical conditions, occupation, mode of living, and other characteristics indicate a prospect for longevity for unimpaired lives of the same age
benefit period
maximum length of time that insurance benefits will be paid for any one accident, illness or hospitalization
recurrent disability provision
a disabilty income policy provision that specifies the periof of time during which reoccurence of a disability is considered a continuation of the prior disability
medical expense insurance
pays benefits for non surgical doctors' fees commonnly rendered in a hospital sometimes palys for home and office calls
Medicare Part B
Voluntary program designed to provide supplementaryh medical insurance to cover physician services, medical services ad supplies not covered by Medicare Part A
In health policy, an individual has how may days in which to file proof of loss on the forms provided by company
90 days
insuring clause
defines and describes the scope of the coverage provided and limits of indemnification
Medical information Bureau
a servcie organization that collects medical data on life and health insurance applicants for member insuance companies
delayed disability provision
a disability income policy provision that allows a certain amount of itme after an accident for a disability to result and the insured remains elibilbe for benefits
managed card
a system of delivering health care services, charcaterized by arrangements with selected providers, program of ongoing quality control and utilization review and financial incentives for members to use providers and procedures covered by the plan
elimination period
duration of time between the begining of an insured's disability and the commencement of the period for which benefits are payable
business health insurance
issued primarily to indemnify a busines for he loss of services of a key employee, partner or actie close corpation stockholder
risk selection
the method of a home office underwriter used to choose applicants that the insurance company will accept;. the underwrite must determine whether the risks are standard, substandard or preferred and adjust the premium accordingly
home service insurer
insurer that offers relatively small policies with premium payable on a weekly basis, collected by agents at the policyowner's home
funds by the company to help fulfill future claims
Types of Health Insurance Available
Comprensive Major Medical; Catastrophic major medical; health savings account program; short term medical policies; medical supplement insurance; student health insurance; hospitalization
hospital indemnity
form of health insurandce providing a stipulated daily, weekly or monthly indemnity during hospital confinement payalbe on an unallocated basis without regard to actual hospital expense
prefered provider organzition
Associaton of health providers, such as doctors and hospitals, that agree to provide health care to members of a particular group at fees negotiated in advance
insurability receipt
a type of conditional receipt that makes coverage effective on the date the application was signed or the date of the medical exam which ever is later provided that the applicant proves to be insurable
collected by reporting agency from employment records, credit reports, and other public sources
investigative consumer reports
GUrantee Issue Policy
If your individual health or insurer or HMO terminated your coverage due to insolvency, dropped to all individual coverage in Florida or if you moved out of the individual health insurers service area.
Look back period
Group health plan can count a preexisting condition only those that your receved a diagnosis, treatmetn or medical advice within 6 months imediately before you joinede the plan. This period is called the look back period
Medicare Part C
Medicare Part C is called Medicare Advantage . This program offers a variety of managed care plans and private fee for for service plan, and Medicare specialty plans. These specialty plans provide services that focus care on the management of a specific disease or condition
Guranteed renewable clause
prohibits the cancelation of a policy as long as the premiums are paid properly and no false information has been supplied in order to obtain coverage. Providing false information can have much more serious consequences that just losing insurance coverage it is a crime
Eligible employees or their dependents may not be denied coverage under a group health plan or insurance policy due to
health status; medical condition; claims and exerience; receipt of health care; medical history; genetic information; evidence of insurability-including arising from acts of domestic violence; disability
Payment for Cobra must be made within how many days of election?
45 days
Florida Viatical Settlement Act
State law that provides for regulation of viatical settlement contracts and providers by the Department of Insurance
principal sum
the amount under and Ad&D policy that is payable as a death benefit if death is due to an accident
Special Enrollment Periods
Group health plans and insurers must offer special enrollment periods during which eligible persons are allowed on the plan without being considered late entrants. Eligible employees or dependents are allowed to enroll within 30 days following:separation; divorce; death; termination of employment; reduction in work hours; employers contributions toward coverage have terminated; exhausion of Cobra contrinuation or state continuation
Florida Comprehensive Health Association
Gurantees health insurance to Florida residents who cannot get coverage because of poor health, at rates up to 250 percent of standard rates. All health insurers, service organizations and fraternal benefit societies selling health insurance must belong to the association
primary insurance amount(PIA)
amount equal to a covered worker's full social security retirement benefit at age 65 or disability benefit
comprehensive major medical insurance
designed to give protection offered by both a basic medical expense and major medical policy. It is charaterized by a low deductible amount coinsurane clause and high maximum benefit
Risk Avoidance
One method of dealing with risk is risk avoidance, simply avoiding as many risks as possible. By choosing not to drive or own an automobile, one could avoid the risk associated with driving. By never flying one could eliminate the risk of being in an airplane crash. By never investing in stock, one could avoid the risk of a market crash. Clearly risk avoidance is effective, but it is not always practical. Few risks can be handled in this manner
residual disability benefit
a disabilty income payment based on the portion of income that the insured actually lost, taking into account the fact that he or she is able to earn some income
home health care
skilled or unskilled care provided in an individual's home, usually on a partime basis
mecidal cost management
the process of controlling how policy holders utilzie their policies
Speculative Risk
A type of risk that involves the chance of both loss and gain not insurable
evidence of insurability
amu statement or proof regarding a person's physical condition occupation and so forth affecting acceptance of the applicant for insurance
custodial care
level of health or medical care give to meet daily personal needs, such as dressing bathing, getting out of bed, and so on. Though it does not require medical training it must be administered under a physician's order
domestic insurer
company within the state in whic it is chartered and in which its ome office is located
disability buy sell agreement
an agreement between business co owners that provides that shares owned by any one of them who becomes disabled shall be sold to and purchased by the other coowners or the by business using funds from disability income insurance
Cobra-Consolidated Omnibus ou Budget Reconcilation Act
Terminated employees or those that lose medical coverage because of reduced work hoursmay be able to buy group coverage for themselves and their families for limited periods of time. If you are entitled to Cobra benefits, your health plan mus give you a notice stating your rights to choose to continue benefits provided by the plan. You have 60 days to accept the coverage or lose all rights to benefits. Once Cobra coverage is chosen, you are required to pay for coverage. Replaces ERISA the Internal Revenue Code and Public Health Service Act
Group long term disability plans
provide maximum benefitsw of more than two years, occasionaly extending to the insured's retirement age. Benefits amounts are usually limited to about 60 percent of the participants income
Which of the following benefits can be incuded in a group health plan?
Medical insurance, disability insurance, and accidental death and dismemberment insurance
Coordination of Benefits
it is to avoid duplication of benefit payments and overinsurance when an individula is covered under more than one group health plan
intermediate nursing care
level of health or medical care that is occasional or rehabilitative ordered by a physician and performed by skilled personnel
Trade Adjustment Assistance (TAA)
If you have lost your health insurance and are receiving benefits from the Trade Adjustment Assistance program you may be eligilbe for federal income tax credit to help pay for health coverage. This credit is called the Health Coverage Tax Credit and it is equal to 65 % of the cost of qualified health coverage, including cobra stat contiuation coverage and a specific policy offered through Blue Cross Blue Shield of Florida
National Association and of Insurance Commissioners
Association of state insurance regulatory problems and in formaing recomending model legislation amd requirements
Disabled child covered
In Florida your disabled child can be covered as a dependant under your group health plan into adulthood. This applied if you dependant was already disabled and covered under the health plan before he or she reached the limiting agefor dependant coverage. You will be required to submit proof of your child's continued incapacity and dependency with 31 days following the date that your child reached the limiting age and annually thereafter. Subsequently if you change health plans you might not be able to your disabled son or daughter as a dependant under the new health plan
Gurantee Issue
If you are a small employer buying a group health plan, you cannot be turned down because of the health status, age, or any factor that might predict the use of health services, of thouse in your group.
open panel HMO
a network of physicians who work out of their own office and participate in the HMO on a part-time basis
non cancelable and guranteed renewable contract
Health insurance contract that the insured has the right to continue in force by payment of premiums set forth in the contract for a substantial period of tme, during which the insurer has no right to make unilaterally any changes in any contract provision
Offer and Acceptance
The offer may be made by the applicant by signing the application paying the first premium and if necessary submiting to a physical examination. Policy issuance, ias applied for, constitutes acceptance by the company. Or the offer may be madye by the company when no premium payment is submitted with application. Premium payment on the offered policy then constitutes acceptance by teh applicant
When would a dependent child be qualified for Cobra?
Termination of covered employee's employment for any reason by gross misconduct; Reduction in the hours worked by the covered employee; Loss of dependent child status under plan rules; Covered employee's becoming entitled to Medicare; divorce or legal separation of the covered employee; death of the covered employee
Can employee or dependent spouse enroll in plan during special enrollment period?
yes: Employees and dependent spouses who are other wise eligible but not enrolled in the plan; can also enroll during the special enrollment period when a change in family status occurs. Persons enrolling under these special enrollment conditions cannot be treated as late entrants
Florida Employee Health Care Access Act
State law governing provisions of group health insurance provided by insurers or HMOs to small employers
A cafeteria plan is a benefit arrangemetn which
allows employees to tailor theri benefit package to meet their specific needs
All of the following actions are examples of risk avoidance EXCEPT?a. Bill won't fly in an airplaneb. Wemdu keeps her money out of the stock marketc. Pat pays his insurance premiumd. John never drives a car
c. Pat pays his insurance premium
How many years can an insurance company go back in Florida regarding preexisting conditions?
The preexisting law for Florida health insurance is not as stringent as in some states. Two year sis as far bas at the insurance company can go to determine preexisting conditions. Some states allow five years and some even has as many as indefinate limit. In Florid, if you have sought treatmetn for or were diagnosed with any condition it is considered to be existing. I fyou maintain contiuous coverage and switch policies the preexisting condition restriction can be covered the length of time your previous plan was in existence.
Can carriers in Florida refuse to offer a policy based on health issues?
Florida health insurance carriers can refuise to offer a policy based on health issues. Premium can be determined by the status o your health, age, and contributin factors. The regulations regarding the option to offer or deny coverage very in lenient in Florida. If your are health it a good time to obtain health insurance coverage
If someone loses other coverage when are the eligible to enroll?
For persons losing other group coverage; special enrollement requests can be made only after losing eligility for the other coverage. Special enrollment is not available in the previous coverage loss resulted from fraudulent activity; or because the person did not pay premiums.
Family Medical Leave Act
If you have to take leave from your job due to illness, the birth or adoption of a child or to care for a seriously ill family member, you may be able to keep group coverage for a limited time. Federal law known as the Family and Medical leave Act (FMLA) gurantees you up to 12 weeks of job protection leae in these circumstances. The FMLA applies to you if you wore at a company with 50 or more employees
mistatement or age or sex provision
If the insured's age or sex is misstated in an application for insurance, the benefit payable usually is adjusted to what he premiums paid should have purchased
Mr. Finklestein has an accident and goes on disability income. After 9 months, he goes back to work. After 3 more months he finds he returned to work too soon and must go back on disability. How will teh company handle the claim.
It will be considered a continuation of the same disability
The agen has just been told by a policyowner taht she is 4 years younger tahtn what whe was listed on the application. The agent should
notify the insurance company to adust existing policy to teh correct age.
Under a typical HMO plan, each member pays:
a fixed premium whether or not he/she uses the health plan.
Which of the following is true about Medicare?
It has two parts: Part A and Part B
If you do not return to work your employer may--regarding FMLA
require you to pay back you share of health benefit/insurance premium. If you do not return to work because of factors outside your control such as a need to care for a sick family member, or because your spouse is transferred to a job in a distance city, you will not be required to repay the premium
Health Maintenace Organization
Consolidated Omibus Budge Reconciliation Act of 1985-extending groups health coverage to terminated employees and their families for up to 18 to 36 months
dreaded disease policy
limited risk policy
Medicare Part A
Compulsory hospitalizatin insurance that providees specified in hospitalization and related benefits. All workers covered by Social Security finance is operation through a portion of FICA tax
Senior Programs
medicare supplements; longterm care; home health; life insurance for senior
in insurance the written instrument in which a contract of insurance is set forth
insurable interest
requirement of insurance contracts that loss must be sustained by the applicant upon the death or disability of another and loss must be sufficent to warrant compensation
statemetns made by applicants on their application for insurance that they represent as being substantially tru to the best of their knowledge and belief but that are not warranted as exact in every detail
is the immediate specific event causing loss and giving rise to risk
physical or mental impairment making a person incapable of performing one or more duties of his or her occupation
moral hazard
Effect of personal reputation character, associates personal living habits financial responsibility and enviroment as distinguised from physical health upon an individual's general insurabiltiy
Premiums for industrial policies are somewhat higher thatn ordinary policies that have the sames face amount.
legal impediment to denying the consequences of one's actions or deeds if they lead to detrimental actions by another
the periodic payment requirement to keep an insurance policy in force
protects consumers against the circulation of inaccurate or obsolete information
Consumer Reports
business continuation plan
arrangements between business owners that provide that the shares owned by any one of them who dies or becomes disabled shall be sold to and purchased by the other coowners or by the business
indidual insurance
policies providing protection ot the policy owner, as distict from group and blanket insurance. Also called person insurance
any factor that gives rise to peril
the practice by which policy values in an existing life policy or annuity contract are used to purchase another policy or contract with the same insurere for the purpose or earning additional premiums or commisions with out objectively reasonable basis for believing that the new policy will result in actual and demonstrate benefit
cafeteria plan
employee benefis arrangments in which employees can select from a range of benefits
Must a health company return unearned premium on a cancelled policy
Hospital benefits
payable for charges incurred while the insured is confined to or treated in a hospital, as defined in health insurance policy
social device for minimizing risk of uncertainty regarding loss by speading the risk over a large enough number of similar exposures to predict the individual chance of loss
Vision care
coverage usually pays for reasonbale cand customary charges incurred during eye exams by opthalmologists and optometrists. Expenses for the fitting or cost of contact lenses or eyeglasses ofter are exlclude
morale hazard
hazard arising from indifference to loss because of the existence of insurance
exclusion rider
Health insruance policy rider that waives insurer's liabilitgy for all future claims on a preexisting condition
mortalitiy table
listing of teh mortality experience of individuals by age, permits an actuary to calcuate on the average how long a male or femaile of a given age group may be expected to live
Medicare supplement policy
Health insurance that provides coverage to fill the gaps in Medicare coverage
miscellaneous expense
Hospitaol charges, other than for room and board drugs, laboratory fees, etc in connection with health insurance
free look
provision required in most states whereby policy holders have either 10 or 20 days to examine their new policies at no obligation
acceptance by one or more insurers called reinsurers of a portion of the risk underwritten by antoher insurer who has contracted for the entire coverage
medical examination
usually conducted by a licensed physician the medical repotr is part of the applicatin becomes part of the policy contract and is attached to the policy. A non medical is a short form medical report filled out by the agent. various company rules such as amount of insurance applied for or already in force, or applicants age, sex, past physicial history and data revealed by inspection report, and so on determine whether the examination will be medical or non medical
is the party that provide insurance coverage typically through a contract of insurance
written or oral information
regarding consumer's credit, character, reputation, or habits
renewable term
some term policies prove that they may be renewed on the same plan for one or more years without medical examination, but with rates based on the insureds advanced age
any occupation
a definition of total disability that requires that for disability income benefits to be payable the insured must be unable to perform any job for which he or she is reasonably suited by reason of education, training or experience
blanket policy
covers a number of individuals who are exposed to the same hazards, such as members of an athletic team, company officials who are passengers in the same company plane and so on
needs approach
a method for determing how much insurance protection a person should have by analzing a family's or business's needs and objecties should the insured die, become disabled or retire
nonmedical insurance
issued on a regular basis without regulater medical examiniations In passing on the risk; the company relies on applicants answers to quions regarding his or her physical condition and on personal referenece or inspection reports
own occupation
a definiton of total disability that requires that in order to receive disability income benefits the insured must be unable to work at his or her own occupation
credit report
a summary of an insurance applicatnts credit history made by an independent organization that has investigated the applicants credit standing
corridor deductible
in superimposed major medical plan a deductible amount between the benefits paid by the basic plan and the beginning of the major medical benefits
conditionally renewable contract
insurance policy providing that the insure may renew the contract from period to period or continue it to a stated date or an advanced age subjectg to the right of insurer to decline renewal onloy under conditions defined in the contract
commercial health insurers
insurance companies that function on the reimbursemetn approach which allows policy owners to seek medical treatmetn then submit the charges to the insurer for reimbursement
dental insurance
a relatively new form of health insurance coverage typically offered on a group basis, it covers the cost of normal dental maintenance as well as oral surgery and root canal therapy
cancelable contract
health insurance contract that may be terminated by the company or that is renewable at its option
reserve basis
refers to mortality table and assumed interest rate used in computing rates
Health Maintenance Organization (HMO)
Health care management stressing preventive halth care, ealry diagnosis and treatmenton an outpatient basis. Persons generally enroll voluntarily by paying a fixed fee periodically.
hospital expense insurance
health insurance benefits subject to a specified daily maximum for a specified period of time while the injured is confined to a hospital, plus a limited allowance up to a specified amount for miscellaneous hospital expenses, such as operating room, anethesia, laboratory fees, and so on. Also called hospitalization insurance
putting a lapsed policy back in force by producing satifactory evidence of insurability and paying the past due premium required
Point of Sevice
They introduce the gatekeeper or Primary Care Physician. You will need to choose your pCP from among the plans network doctors. You can choose to go out of the network and still get some kind of coverage. In order to get a referral to a specialist you usually must go through your Primary Care Physician (PCP) You will have more hassles and more money out of pocket.
What is credible coverage?
Federal Employee Health Benefits; Group health plan (COBRA); Military Health Coverage (Champus and Tricare); Indian Health Service; Individual Health Insurance; State Health Insurance High Risk Pools, Medicaid
reimbursement approach
payment of health polcy benefits to insured based on the actual medical expensesw incurred
indivdual supplemetnal insurance products
accident plans; cancer; dental; hospitalization
presumptive disability benefit
a disability income policy benefit that provides that is and insured experiences a specified disability, such as blindness her or she is presumed to be totally disabled and entitle dto full amount under the policy, whether or not he or she is able to work
policy provisions
the term or conditions of an insurance polciy as contained in the policy clause
prescription durg coverage
usually offered as an optional benefit that provides medical expense plans this coverage covers some or all of the costs of prescriptions
participating physician
a doctor or physican who accept Medicare's allowable or recognized charges and wil not charge more thatn this amount
fair credit reporting act
became law april 25, 1971
Medicare Part D
A program that offers a prescription drug benefit to help Medicare beneficiaries pay for the drugs they need. Teh drug benefit benefit is optional and is available to anyone whoe is entitled to Medicare Part A or enrolled in Part B This benefit is available through private prescription drug plans or Medicare Advantage plans
non contributory plan
Employee benefit plan under which teh employer bears the full cost of the employees benefits; must insure 100 percent of eligible employees
Fair Credit Reporting Act
Federal law requiring an individual to be informed if he or she is being investigated by an inspection company
Preferred Provider Organization
Have made arrangemetns for lower fees within networkof health care providers. PPOs give their policy holders a financial incentive to stay within the network
Florida Health Insurance Coverage Continuation Act
Legislation that requires insurers selling health plans to small employers to offer a right to elect continued coverage, without providing eveident of insurability to the covered employees or their dependents who iwll lose employer sponsored group coverage and who is unable to obtain replacement insurance
optionally renewable contract
Health or in insurance policy whihc the insurer reserves the right to terminate the coverage at any anniversary or in some cases at premium dud date, but does not have the right to terminate covergae between such dates
misuse of premiums
Improper use of premiums collected by an insurance producer
major medical expense policy
health insurance policy that provides broad coverage and high benefits for hospitalization, surgery and physician servicees. Characterized by deductibles and coinsurance cost sharing
conditioned receipt
given to the policy owner when they pay a premium at tim eof application. Such receipts bind the insurance company if the risk is approvewd as applief for subject to any other conditions stated on the receipt
closed panel HMO
a group of physicians who are salaried employees of an hmo AND WHO WORK IN FACILITIES PROVIDED BY THE HMO
insurance code
the law that governs the business of insurance in a given state
basic medical expense policy
health insurnce policy that provides first dollar benefits for specified and limited health care. such as hospitalization, surgery or physician services. Characterized by limited benefit period and relatively low coverage limits.
Pure Risk
Type of risk that involves the chance of loss only; there is no opportunity for gain, insurable
same as consumer report, except information is obtained from investigations and interviews with neighbors, associates, friends
Investigative consumer report RESTRICTIONS
parol evidence rule
rule or contract law that brings all verbal statements into written contract and disallows any changes or modification to the contract by oral evidence
Group short term disability plans
are characterised by maximum benefit periods of rather short duration 13 to 26 weeks. Benefits are typically paid weekly and range fromm 50 to 100 percent of the individual's income.
Old Age Survivors Disability and Hospital Insuracne
Retirement death disability income and hospital insurance benefits provided under the Social Security System
grace period
period of time after the due date of a premium during which the policy remains in force without penalty
Multiple Employers Welfare Arrangement (MEWA)
Similar to a multiple emplyer trust with the exceptiob that in a MEWA a number of employers pool their risk and self insure
non admitted insurer
an insurance company that has not be licensed to operate within a given state
Health Maintenance Organizations
Most of the time you are talking about closed panel HMOs; the least expensive but least flexible type of health plan. They also tend to be geared more towards members of group plans than individuals.In exchange for a low copayment low premiums and minimal paperwork, and HMO requires that you only see its doctors. and that you get a referral from you physician before you see a specialist. If you can still pick up the phone, you'll probally need to get clearance before you can visit the emergency room. An HMO may have central medical offices or clinics, or it may consist of a network of individual practices. In general you must see HUM approved physicians or pay the entire cost of the visit your self. HMOs have the best reputation for covering preventive services and health improvement programs
cost of living rider
a rider available with some policies that provides for automatic increase in benefits typically tied to Consumer price index offsetting the effects of inflation
When does the blackout period begin?
When the youngest child turns 16.
credit accident and health insurance
if the insured debtor becomes totally disabled due to an accident or sickness the policy premiums are paid during the period of the disability or the loan is paid off. May be individual or group policy
personal producing general agency system (PPGA)
A methos of marketing selling and distributing insuranc ein which personal producing general agents are compensated for business they personally sell and business sold by agents with whom they subcontract. Subcontracted agents are considered employees of PPGA not insurer
If you are HIPAA eligible but do or a not qualify for a conversion policy. You are guranteed the right to an individual health policy from an insurance company that sells such a plan in Florida. Insurers that sell individual health insurance must offer y
HIPPA eligible
McCarran Feguson Act
also know as a public law 15 the 1945 act exempting insurance from federal anti trust laws to the extent insurance is regulated by the states
An insurer my renew insured group policies at the employers options except for
non payment of premiums; fraud; violations of participation or contribution rules and insurance carrie may set its own participation or contribution rules; so long as they comply with state law; termination of coverage the carrier ceases to offer coverage in a particulation market; movement outside the service area (applies to networks); for associatio plans; of an employer's membership in th association ends. Under certain circumstances, however, an insurer may modify coverage. Am insurer may also discontinue some or all of coverage's in certain markets. If this is done, group health plans and state insurance departments must be notified in advance
A change in family status due to
marriage; birth of a child; adoption or placement for adoption of a child
Health Care and Insurance Reform Act
this 1993 act establishes a new model for health care delivery in Florida called managed care
What can't a group plan apply an exclusion period
pregnancy, newborns, or newly adopted children, children placed for adoption or genetic information
Cost for Cobra can not exceed
102 percent of the cost of the plan for similarly situated individuals
Under the law group health plans and insurers can only apply preexisting exclusing to
late entrants; person who has never had health coverage; person who have previously hasd health coverage for less than 63 days; a person who has been without coverage for more than 63 days
consumer must be advised that they have the right to request additional information concerning the report.
reporting agency has 5 days to provide information to consumer.
Types of Group Plans you commonly see in Florida
HMOs, PPO's, POS, Fee for Service or traditional indemnity plans
consumer must be advised in writing about the report
within 3 days of the date the report was requested.
An HMO fouind guilty of unfair trade practices act could be charged a penalty
up to $50,000 and if the violation is criminal, it can result in imprisonment
A late entrant is a plan member or a dependant who does not enroll during
the first period in which she/he is eligible to enroll; or; a special enrollment period when there is a change in family status or loss of group coverage under another plan;
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