Q. My insurance company states that if I drop the insurance, I can work no more than 25 hours a week, can they do this?
A. I think what is happening is this:
The Insurance Company has participation requirements. Your employer may need to have 75% of all eligible employees enrolled in their insurance plan. Waivers for those with coverage through their spouse do not count against them. So, let's say that there are 50 eligible employees and if you were to waive coverage because it is too expensive, you don't feel you need it, or any reason other than you have coverage through your spouse, it puts the group below the 75% requirement. Your election puts the whole group's coverage in jeopardy. The easiest fix is to make you ineligible - cut your hours to below the threshold of a full-time employee.
Bottom line, your employer is trying to protect the integrity of the group health plan for the good of the company and its employees. They can cut your hours anytime they feel it is necessary for the fiscal well-being of the company. I think this qualifies.
The Insurance Company has participation requirements. Your employer may need to have 75% of all eligible employees enrolled in their insurance plan. Waivers for those with coverage through their spouse do not count against them. So, let's say that there are 50 eligible employees and if you were to waive coverage because it is too expensive, you don't feel you need it, or any reason other than you have coverage through your spouse, it puts the group below the 75% requirement. Your election puts the whole group's coverage in jeopardy. The easiest fix is to make you ineligible - cut your hours to below the threshold of a full-time employee.
Bottom line, your employer is trying to protect the integrity of the group health plan for the good of the company and its employees. They can cut your hours anytime they feel it is necessary for the fiscal well-being of the company. I think this qualifies.
How much might it cost an insurance company to investigate an insurance claim for lets say theft?
Q. How much might it cost an insurance company to investigate an insurance claim for lets say theft? I just need a rough figure, any help would be much appreciated. Thanks
A. The insurance company MUST investigate ALL claims. Be it, auto accidents, homeowner claims, they must determine if there is coverage, then determine if owed (liability to 3rd party) or if in theft, they take more steps, since the person claiming, must provide proof of the theft or to verify if not fraud.
They will usually take longer to conclude and will be asked more questions or proof. If fraud, then they will deny and pay nothing.
good luck
They will usually take longer to conclude and will be asked more questions or proof. If fraud, then they will deny and pay nothing.
good luck
How can a life insurance company know if you smoke cigarettes if you quit one week prior to the exam?
Q. Can i quit smoking one week before my insurance company medical exam and my test results be negative?
If so, what happens if I die from lung cancer 20 years later? Will the insurance company protest or pay up?
If so, what happens if I die from lung cancer 20 years later? Will the insurance company protest or pay up?
A. Moral aspects of lying on the application are one part of the issue.
1. The technicalities though are such that the medical test will not show anything after 3 days of not smoking - I have read an article on that.
2. Contestability period is limited to 2 years in California and many other states (insurance is regulated at the state, not federal level). For insurance company to contest the policy the person should die from smoking, not from another cause.
3. Since insurance fraud happens allot it is being calculated into the premium - we all are paying for that insuring cars, homes, autos and lives.
1. The technicalities though are such that the medical test will not show anything after 3 days of not smoking - I have read an article on that.
2. Contestability period is limited to 2 years in California and many other states (insurance is regulated at the state, not federal level). For insurance company to contest the policy the person should die from smoking, not from another cause.
3. Since insurance fraud happens allot it is being calculated into the premium - we all are paying for that insuring cars, homes, autos and lives.
Is it legal for an insurance company in Kentucky to cancel a policy with the 5 day written notice?
Q. Is it legal for an insurance company in Kentucky to cancel a policy with the 5 day written notice?
Under the common provisions 'cancelable'
I live in Kentucky and I am about to take my insurance exam and I am reading up the info in the book. It said "not legal in many states" I just wondered if Kentucky was one or not. Its for Health Insurance.
Under the common provisions 'cancelable'
I live in Kentucky and I am about to take my insurance exam and I am reading up the info in the book. It said "not legal in many states" I just wondered if Kentucky was one or not. Its for Health Insurance.
A. More facts please. What type of insurance. Were there any claims. Does the existing policy address cancellations notice, and what does it state. Are your payments current. Has there been any negative exchanges between you and the insurance company. What reasons were given.
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