The Florida Health Care Access Act allows small businesses to provide group health insurance coverage for its employees on a guarantee-issue basis regardless of health circumstances, preexisting conditions, or claims history.
Which of the following factors is not considered when Department of Financial Services determines if an agent home is an insurance agency?
The Department of Financial Services does not take into consideration the amount of premium collected at an agent’s home when determining whether or not the home is an insurance agency. … “funded by admitted insurance companies through assessments”.
What is the required minimum percentage of employee participation for a?
Typically, noncontributory plans require 100% employee participation; contributory plans usually require approximately 75% participation.
Does Florida require employers to offer health insurance?
There is no state law requiring employers to offer group healthcare insurance to their employees, but most employers do provide this benefit. … Florida’s mandated benefits and conversion provisions do not apply to health plans in which the employer pays all benefits without the proceeds of any insurance policy.
Which of the following employee may not be excluded from a group life plan?
Which of the following employees may NOT be excluded from a group life plan? Full-time employees after the probationary period. (All of these employees may be excluded from a group life plan except for “Full time employees after the probationary period”).
What percentage of eligible persons must a policy?
Insurance companies typically require 100 percent of eligible employees to participate in noncontributory plans. Employers are allowed to set their own guidelines for determining who is eligible to participate in the plan.
What type of insurance is most frequently used in group life plans?
Term insurance is the most common form of group life insurance. Group term life is typically provided in the form of yearly renewable term insurance. When group term insurance is provided through your employer, the employer usually pays for most (and in some cases all) of the premiums.
What is an example of rebating?
An example of rebating is when the prospective insurance buyer receives a refund of all or part of the commission for the insurance sale. Rebates can be made in the form of cash, gifts, services, payment of premiums, employment, or almost any other thing of value.
Which is an example of an unfair claims settlement practice?
Typical Example of Unfair Claims Practice
The insurance company delays payment, rendering the business owner unable to repair any of the damage. The insurance company continues using delay tactics to avoiding making a payment. For example, the claims representative keeps “forgetting” to send the claim forms.
Which of these is considered a mandatory provision?
Which of these is considered a mandatory provision? “Payment of Claims“. Payment of Claims is considered a mandatory provision and directs where the claim benefits will go. The others are considered optional provisions.
Do employers have to offer health insurance in 2020?
No law directly requires employers to provide health care coverage to their employees. … This penalty is quite hefty”$3,860 per employee per year (in 2020). As a result, large employers have a strong incentive to provide health coverage. However, employees have no right to demand health care under the ACA.
Can I refuse health insurance from my employer and get Obamacare?
If you decline individual health insurance through your employer, you can enroll in an Obamacare plan through the Marketplace. Although you most likely will not qualify for any subsidies or other financial assistance. You will only be able to qualify for cost savings if the following applies: 1.
Who pays for my health insurance while on workers comp in Florida?
Will My Health Insurance Continue if I File for Workers’ Comp? … You should pay the same health insurance premiums, if any, that you are normally required to. Your employer should continue to pay their portion of your health insurance as they have been doing.
What is main purpose of the seven pay test?
The seven-pay test determines whether the total amount of premiums paid into a life insurance policy, within the first seven years, is more than what was required to have the policy considered paid up in seven years.
What type of policy would offer a 40 year old the fastest accumulation of cash value?
What type of policy would offer a 40-year old the quickest accumulation of cash value? In this situation, a 20-pay Life policy offers the quickest accumulation of cash value. Whole life provides the insured with a cash value as well as a level face amount.
What are adjustable rates for life policy loan in Florida based on?
Adjustable rates for life insurance policy loans in Florida are based on Moody’s corporate bond index. The maximum contestability period for most life insurance policies is 2 years. Making a material misrepresentation to an insured is considered to be an unfair trade practice.