Our Top Ten Frequently Asked Questions
How do I obtain a group medical quote?
Answer: Download a Request for Proposal Form here.
What constitutes a group?
Answer: Two or more full time employees working a minimum of 30 hours a week.
How much does the employer have to pay?
Answer: Most companies require 75% of employee cost or 50% of total employee and dependent cost.
What kind of participation is needed?
Answer: 75% participation of all eligible employees.
What is required at application time?
Answer: Texas Workforce Commission (TWC) Quarterly Report, last month’s billing statement, individual applications, a group application and the first month’s premium.
How long does it take to approve and issue a group plan and obtain identification cards?
Answer: Normally, a group plan can be approved and issued within 7 to 10 business days. The employee ID cards are mailed to the employee home address after the case is approved.
Question: How do insurance companies calculate health insurance rates?
Answer: There are several factors that are used to determine the premiums that are charged for insurance. An underwriter will look at the following:
- The age of all the employees,
- The sex of all the employees,
- The geographic area of the business and its employees,
- The type of industry of the business / SIC Code (Standard Industrial Classification Code),
- Medical conditions of the group.
What is needed to obtain an individual life insurance quote?
Answer: Amount of insurance desired, name, date of birth, smoking status, any health conditions.
What constitutes a pre-existing condition?
Answer: A medical condition believed to exist prior to the policy start or is not covered under your current group health insurance.
What is HIPAA (Health Insurance Portability & Accountability Act)?
Answer: A federal law that guarantees health care plan issuance to small employers with 2-50 employees and guarantees eligibility of coverage for people changing jobs, if the new employer offers group insurance.