Florida Regulations 69O-154.114: Withdrawal From the Individual Market
Current as of: 2024 | Check for updates
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(1) If a health insurance issuer elects to withdraw from the individual health insurance market, the issuer must provide 180 days’ written notice to the Office and to all policyholders, certificateholders and beneficiaries provided coverage by the issuer in that market.
(2) A notice of withdrawal from the individual market means an issuer may then non-renew coverage upon the next renewal date of policies affected by the withdrawal.
(3) A policy may not be terminated except at the next renewal date following the 180 day notice period.
(4) Notice to the Office must include a copy of all forms issued in that market.
(5) With respect to notice to policyholders, certificateholders, beneficiaries, a mailing to one household constitutes a mailing to all covered persons residing in the household.
(6) A separate mailing is required for each separate household.
(7) If the issuer elects to exit or withdraw from the individual market, re-entry into that market is prohibited for five years from the last date of coverage provided in that market.
(8) The filing shall be submitted to the Office electronically through http://www.floir.com/iportal.
Rulemaking Authority Florida Statutes § 624.308(1). Law Implemented 624.307(1), 624.424, 627.6425 FS. History-New 3-1-98, Formerly 4-154.114, Amended 7-30-17.
(2) A notice of withdrawal from the individual market means an issuer may then non-renew coverage upon the next renewal date of policies affected by the withdrawal.
(3) A policy may not be terminated except at the next renewal date following the 180 day notice period.
(4) Notice to the Office must include a copy of all forms issued in that market.
(5) With respect to notice to policyholders, certificateholders, beneficiaries, a mailing to one household constitutes a mailing to all covered persons residing in the household.
(6) A separate mailing is required for each separate household.
(7) If the issuer elects to exit or withdraw from the individual market, re-entry into that market is prohibited for five years from the last date of coverage provided in that market.
(8) The filing shall be submitted to the Office electronically through http://www.floir.com/iportal.
Rulemaking Authority Florida Statutes § 624.308(1). Law Implemented 624.307(1), 624.424, 627.6425 FS. History-New 3-1-98, Formerly 4-154.114, Amended 7-30-17.