Health Insurance Archives - Page 2 of 13

Jan 14

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How are Florida Health Insurance Premium Rates Determined for Large Employer Groups?

By floridianquote | Health Insurance | No Comments

Insurance Premium Rates for Large Employer Groups There are several employers who offer health insurance coverage to their employees as it is regarded as a valued benefit that would help them to retain as well as attract best talents. Different insurance companies may apply a different set of underwriting rules on the basis of factors such as number of employees. Federal and state law are applicable in different degrees based on factors like business type, number of employees and whether coverage is being provided by an insurance company or not. The law permits small group health insurance organizations to ascertain…

Dec 20

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What are the Insurance Coverage Requirements for Large Employer Groups

By floridianquote | Health Insurance | No Comments

Health Insurance Coverage for Large Employer Groups The health care law or The Affordable Care Act comprises with the various responsibilities as well as benefits for employers. The structure as well as the size of your company’s workforce –part of a group, large or small would actually help in determining what is applicable to you. In case, you are running a business with no workers, then the information discussed below would not apply to you. But other provisions such as the branded prescription drug fee or the insurance provider fee may still impact your business. An employer size is dependent…

Dec 11

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What is Employer Group Health Insurance Coverage in Florida?

By floridianquote | Health Insurance | No Comments

Employer Group Health Insurance Coverage Purchasing insurance for a small business or group coverage has a different set of rules than purchasing it for either yourself or your family members. Group health insurance coverage typically signifies a single policy that is issued to offer coverage to all eligible workers and often their dependent family members. On the other hand, an individual medical coverage is a single policy that is issued to an individual or his/her family. As mentioned earlier, the rules for a group health insurance coverage is quite different from individual coverage. The risks associated with the insurer are…

Dec 02

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How are Premium Health Insurance Rates Determined for Small Group Employers

By floridianquote | Health Insurance | No Comments

Health Insurance Rates for Small Group Employers There are 38 states in the United States where small group health insurance companies are permitted by the law to ascertain the initial premium rates for each of the client company. This is done by deploying a process that is termed as ‘medical underwriting’. The remaining states have laid down use of processes referred to as ‘community rating’ or ‘modified community rating’ for the small group health insurance companies to determine their initial rates. Medical underwriting If ‘Medical underwriting’ methodology is used by the small group plans, employees may be required to furnish all…

Nov 11

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Are All Policies for Employer Group Health Insurance in Florida Same?

By floridianquote | Health Insurance | No Comments

Employer Group Health Insurance An employer group health insurance may be offered by an employer to its employees as a part of the latter’s compensation package. Irrespective of the size of the business, an employer may decide to extend this benefit to its workers. The workers can get the cover for themselves but in several scenarios but in a majority of cases such health related benefits are also provided for the family members of the workers. Such a policy is often preferred as it is greatly subsidized being exempted from tax. Whether you are an employer or an employee, an…

Nov 01

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What is Florida Employer Group Health Insurance Coverage?

By floridianquote | Health Insurance | No Comments

Employer Group Health Insurance Coverage An employer may purchase a policy known as “Group Health Insurance Coverage” and offer the same to all its eligible employees. Such policies are often extended to the family members of employees as a benefit for working in the organization. Such a policy is often a key component among the various employee benefit packages that are provided by an employer to its employees. Most of the Americans enjoy group health insurance coverage either through the employer of their family member or directly through their employer. One of the major benefits for employees while availing the…

Oct 22

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Group Health Insurance Coverage Requirements for Small Employer Plans

By floridianquote | Health Insurance | No Comments

Small Employer Health Insurance Plans Different types of employers may offer different kinds of group healthcare coverage for their staffs. You may be thinking who is a “small employer” in the context of healthcare coverage in USA. A small employer can be defined as an employer who has employed 50 or fewer than 50 employees in his venture. It is not mandatory for a small employer to provide health insurance coverage to their workers. However, many employers may provide it as they are convinced that providing such coverage to their workers is a key employee benefit what would help them…

Oct 10

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Glossary of Health Insurance Terms Q – Z

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Q Qualified Provider: Health care provider who has been contracted with or authorized to provide reimbursable health care services from an insurer or payer. Quality Assurance: Set of activities that measures the characteristics of health care services and may include corrective measures. R Readmission: Patient admission to a hospital for the same or similar diagnosis as a previous, recent admission. Often used as a measure of inappropriate discharge or treatment from the first admission. Reasonable and Customary: The maximum amount a plan or insurance contract will consider eligible for reimbursement, based upon prevailing fees in a geographic area. Rebating: The…

Oct 05

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Glossary of Health Insurance Terms L – P

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L Lagged Claims: The time between when service is incurred and when it is submitted and processed for payment. Lapse: Termination of insurance coverage for failure to pay premiums. Lifetime Aggregate or Maximum: The maximum benefit payment provided under a plan or insurance contract. Long-term Care (LTC): Continuum of maintenance, custodial, and health services to the chronically ill, disabled, or mentally impaired over a lengthy period of time. Services may be provided in long-term care or on an outpatient basis (subacute care, rehabilitation facility, nursing home, mental hospital, outpatient, or at-home basis). Long-Term Care Facility: A place which is (1)…

Oct 01

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Glossary of Health Insurance Terms A – J

By floridianquote | Health Insurance | No Comments

Access: Right to enter or use health care services. Acquisition Cost: The cost to an insurer to acquire new business. It includes costs such as underwriting the risk, issuing a new policy, paying commissions and overhead or office expenses. Activities of Daily Living (ADLs): Everyday activities which are used to measure an individual’s ability to function independently. ADLs define the disability in long term care insurance. The loss of some number of ADLs is an insuring or triggering event in all long term care policies. In California, Senate Bill 1943 established seven standard activities of daily living (eating, bathing, dressing,…