It is a policy issued to an employer which covers job-related injuries to employees on a no-fault basis.
What does WC insurance cover?
It covers medical expenses and indemnity benefits for present and future losses.
How do I obtain a WC policy?
Licensed property and casualty insurance agents normally provide these types of policies.
What does a WC policy cost?
Rates depend upon the risk factors of a particular occupation or business.
How is my business classified?
The National Council of Compensation Insurance provides agents with a Scopes Classification Guide.
Does my business qualify for any credits?
Credits depend on the size of the policy premium, the average hourly wage, the presence of a certified Drug-Free Workplace program, and certified safety plans.
What is an experience modification factor or "ex mod?"
It is a debit or credit applied to the workers compensation premium calculated from previous years' loss experience based on industry averages.
How does an experience modification factor work?
If the formulated losses from the reporting period are greater than expected losses then a debit modifier is calculated and visa versa.
How will an ex-mod affect my business?
A poor loss history will greatly increase Workers' Compensation costs, while a good history maintained through loss control will lower the costs.
How will a Workers' Compensation claim affect my business?
There are plenty of non-direct costs associated with a Workers' Compensation claim, but the direct costs can be measured through the experience modification factor or even the marketability for dividend plans
Health Insurance F.A.Q.
What determines the cost of health insurance?
Health insurance rates are based upon the ages, health, and gender of the members of your collective group of eligible employees.
What determines an "eligible" employee?
"Eligible" employees work a minimum of 25 hours according to the State of Floida. However, the employer may determine the full-time hourly requirement to be higher.
As an employer, what percent of an employee's health insurance do I have to pay?
Florida state law requires that the employer pays 50% of an employee's health insurance cost (for groups of 2-49 members). For groups of 50+ members, state law requires that the employer pay 75% of an employee's health insurance cost.
As an employer, must I pay for ALL of my employees' health insurance?
Yes. Florida state law requires that an employer pay for ALL eligible employees' health insurance costs acording to the percentages cited above. An employer cannot selectively pay for certain employees' health insurance and not others'.
Can I offer more than one health plan to my employees?
Yes. Certain Health Insurance carriers will offer multiple plans to suit various health coverage needs.
As a covered employee, can I see only the doctors listed in my covered insurance network?
No. Each plan lists "In Network" and "Out of Network" charges. However, you will receive the least expensive care for doctors and facilities listed "In Network" according to your plan.
If you are part of an HMO, however, you must stay within the HMO's network of doctors, as you will not receive benefits for an out-of-network doctor.
What types of health insurance plans are the most cost-effective for an employer?
Both Health Savings Accounts (HSAs) and Health Reimbursement Accounts (HRAs) offer the most tax-saving advantages for employers. Normally, these plans are more cost effective than traditional HMO or PPO plans.
What is the difference between an HMO plan and a PPO plan?
An HMO plan (Health Maintenance Organization) allows those covered to see any doctor or facility WITHIN their covered healthcare provider network; those healthcare providers OUTSIDE of their covered network are NOT covered by HMO benefits.
A PPO plan (Preferred Provider Organization) allows a covered individual to seek healthcare services from both INSIDE and OUTSIDE their covered healthcare providers' network; those doctors and facilities OUTSIDE of their network will be more expensive than those listed inside their network.
If I don't enroll now, can I enroll later?
Employees are eligible to enroll when the group enrolls initially and once a year at the anniversary of the plan. Employees can add family members or move from their spouse's coverage to their employer's coverage under Special enrollment rights. Some examples of qualifying events are: marriage, birth of a child, adoption, divorce, or loss of coverage.
Automobile Insurance
I am registering a vehicle for the first time in Florida. Is automobile insurance mandatory?
Yes. If you own a vehicle with at least four wheels and are registering it, you must have Florida insurance.
What type of insurance is required to purchase and maintain a Florida tag and registration?
Florida's minimum coverage is $10,000 personal injury protection (PIP) and $10,000 property damage liability (PDL) as long as you have a valid Florida tag, even if the vehicle is in another state or inoperative. There are no exemptions in the law. However, if you have been involved in a crash, or been convicted of certain offenses, you may be required to purchase bodily injury liability coverage (BIL).
What is "Personal Injury Protection" (PIP) insurance?
PIP is coverage that will compensate a loss due to injury regardless of who is charged with causing the crash. PIP applies to bodily injury to you, relatives who live in your home, and passengers who are not required to have PIP, as well as licensed drivers who drive your vehicle with your permission. PIP insurance also protects you if you are injured as a pedestrian or bicyclist as long as the injury is caused by a crash involving a motor vehicle.
What is " Bodily Injury Liability" (BIL) insurance?
Bodily Injury Liability coverage pays for serious and permanent injury or death to others when you cause a crash involving your automobile. Your insurance company will pay for injuries up to the limits of your policy and provide legal representation for you if you get sued. In particular, your company pays for injuries caused by you or members of your family who live with you, even if they were driving someone else's vehicle. It may also cover others who drive your automobile with your permission. This coverage also provides you with legal defense in the event you are sued by the injured party.
What is "Property Damage Liability" (PDL) insurance?
This coverage pays for damages you or members of your family cause (and are liable for) to other people's property in a crash involving a motor vehicle.
What is meant by "Florida Coverage?"
Florida coverage is an insurance policy delivered or issued for delivery in Florida by an insurance company licensed by the Florida Department of Insurance.
What if I fail to keep insurance on my vehicle that I have registered in Florida?
The Department of Highway Safety and Motor Vehicles is authorized to suspend your driving privilege, including your vehicle tag and registration, for up to three years or until proof of Florida insurance is provided, whichever is first.
I live outside Florida for six months a year. When not in Florida, my vehicle is in storage and not used. Must I maintain automobile insurance?
Yes. Any vehicle holding a valid Florida tag and registration must be covered by a Florida insurance policy throughout the entire registration period. When you leave Florida, you may surrender your tag and registration at the nearest driver license or tag office to avoid maintaining your policy. You can always register your vehicle upon your return to Florida, at which time you can provide proof of Florida insurance.
I am not a resident of Florida but I have business that keeps me in Florida sometimes for several months at a time. Must I comply with Florida's insurance laws?
Yes. Any person who has a vehicle in Florida for more than 90 days during a 365-day period must purchase personal injury protection and property damage liability insurance coverage. The 90 days do not have to be consecutive.
I own multiple vehicles. Some are not used for different reasons, but I live out in the county and the law requires that the vehicles remain registered. Must I maintain insurance coverage on these vehicles?
Yes. Insurance coverage must be maintained throughout the entire vehicle registration period.
What can I do to avoid a driving privilege suspension when I choose not to insure a vehicle?
To avoid a driving privilege suspension, surrender the vehicle's tag and registration at any Florida driver license or tag office, prior to canceling your insurance policy.
If my driving privilege is suspended for no insurance, will I be granted a temporary driver license for working purposes?
No. There is no provision in Florida's motor vehicle insurance laws for the issuance of any sort of temporary or restricted driver license for financial responsibility suspensions.
I am self-employed as a taxi driver and the only vehicle I own is used as a taxicab. Must I carry automobile insurance?
No. Vehicles that are registered for use as taxicabs and limousines are exempt from the mandatory personal injury protection and property damage liability insurance coverage. However, if you cause a crash, and you do not have full coverage, including bodily injury liability at the time of the crash, you must purchase insurance with full liability coverage and meet other requirements.
Please note that no coverage can be bound, modified, or cancelled by EMAIL, phone, or fax. Original signatures are required on applications and other forms as appropriate.
