Fully Insured and State Law Flashcards
Review the basics of State Law protections for the Policy Holder for Plan Sponsors.
1
Q
What insurance policies do most states regulate?
A
Individual policies for health, life insurance, long-term care, disability and HMO. Plus, group insurance policies for employer sponsored fully insured plans.
2
Q
Define when a group has to follow fully insured state law for policies issued in a particular state?
A
Under 100 employee has been the standards until ACA which made for much uncertainty. It is commonly acceoted that groups of 2 or more should comply with ERISA rules.
