Department Of Banking And Finance Florida
Many companies have guaranteed the Department of Banking and Finance Florida that that they are marketing guaranteed issue health insurance policies for eligible individuals as defined by Section 627.6487(3), Florida Statutes. These companies are offering two types of guaranteed issue policies. The first type is in-state, and the other one is the out-of-state group.
The in-state policies are filed and approved with the Department of Banking and Finance Florida, Office of Insurance Regulation. However, they must meet certain minimum standards regarding benefits offered. What is more, their rates must also be approved by the Office of Insurance Regulation.
There is various Health Savings Account (HSA) availability information. However, these plans may not be available on a guaranteed issue basis. You need to inquire with the insurer or HMO to determine if this plan is available per 627.6487 Florida Statutes. The companies currently offering in-state guaranteed issue policies are Aetna Life Insurance Company, Avalon Healthcare, Inc., Blue Cross & Blue Shield of Florida, Inc., and Humana Health Insurance Company of Florida.
However, the out-of-state group policies are made available by insurance companies to various interest groups that are not based in Florida. Their policy terms and premium rates are not filed with the Department of Banking and Finance Florida, Office of Insurance Regulation because they are not being sold to a group in Florida. If a Florida resident wishes to purchase such coverage, he or she may join the group that sponsors the coverage.