Volume 3 Issue 2 ● 2nd Quarter 2011
Welcome to the ninth issue of The Advocate’s Advice newsletter. The Office of the Insurance Consumer Advocate continues to publish informational articles and advisories on our website http://www.myfloridacfo.com/ica/. The Advocate’s Advice continues to be a great way for us to communicate directly with the insurance consumers of this state. Read more
Health Insurance for Persons with Pre-Existing Conditions
The U.S. Department of Health and Human Services (HHS) recently announced
that premiums for health insurance coverage in the Pre-existing Condition
Insurance Plan will be reduced by 40 percent for Florida participants.
This
change will be effective on July 1, 2011.
The Pre-existing Condition Insurance Plan (PCIP) makes health insurance coverage available for persons who have been unable to obtain health insurance in the private marketplace due to the existence of a pre-existing condition. A pre-existing condition is a condition, disability or illness (either physical or mental) that you have before you enroll in a health plan.
Is Your Home Fully Insured?
While home values continue to fall due to the collapse of the real estate market, many homeowners are questioning why their insurance company has kept the value of their home the same or have even raised the value of their home for insurance purposes. At first glance, it may appear that the insurance company is placing a value on the home in excess of its market value so that they can collect more premiums from the homeowner rather than reduce premiums. However, it is important for homeowners to know that the insurable value of their home should be equivalent to the funds needed to rebuild the home in case of fire, hurricane or other insurable event that results in a total or almost total loss.
Have You Gotten Permission from Your Health Care Plan?
There was a time when most people knew precisely what their health insurance policy covered (almost everything) and how to obtain treatment (go to just about any doctor or hospital you wanted to). When I was a kid (many years ago!), there were no Health Maintenance Organizations (HMOs), Preferred Provider Organizations (PPOs) or Exclusive Provider Organizations (EPOs). Managed care did not exist. Insurance companies were in the business of collecting premiums and paying medical bills for their policyholders. These days, health plans frequently require prior approval for certain treatment to be covered.
The Insurance Consumer Advocate is appointed by Florida Chief Financial Officer Jeff Atwater and is committed to finding solutions to insurance issues facing Floridians, calling attention to questionable insurance practices, promoting a viable insurance market responsive to the needs of Florida’s diverse population and assuring that rates are fair and justified.