1. How do I obtain a group medical
quote?
Answer:
Download a Request for Proposal Form here.
2. What constitutes a group?
Answer:
Two or more full time employees working a
minimum of 30 hours a week.
3. How much does the employer have to pay?
Answer:
Most companies require 75% of employee cost or 50%
of total employee and dependent cost.
4. What kind of participation is needed?
Answer:
75% participation of all eligible employees.
5. 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.
6. 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.
7. 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:
A. The age of all the employees,
B. The sex of all the employees,
C. The geographic area of the business and its
employees,
D. The type of industry of the business / SIC
Code (Standard Industrial Classification Code),
E. Medical conditions of the group.
8. What is needed to obtain an individual
life insurance quote?
Answer:
Amount of insurance desired, name, date of birth,
smoking status, any health conditions.
9. 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.
10. 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.
