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Writing Health Insurance with a P&C License |
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| Question: I pulled my CE transcript and it shows I have a 2-20 (general lines) license as well as a 2-40 (health insurance) license. My transcript says I have to get 10 hours of P&C CE credit and 10 hours of "health only" CE credit. I never requested this health license and don't understand why I have it, nor why I have a CE requirement for health only courses. Can you help? Barbara, Margate, FL (Name and question used with permission.)
Answer: This comes up more often than you'd think Barbara. Florida statute 626.4311 allows an individual with a 2-20 license to write health insurance with a carrier for whom that individual is also appointed as a general lines agent. For example, I looked at your appointments on the Department of Financial Services (DFS) web page and saw Travelers appointed you for P&C business. Therefore you can legally write health insurance through Travelers with your 2-20 license. However, you can't legally write health insurance with, for example, Blue Cross since you're not appointed with them for P&C. However, if you did want to write with Blue Cross they could request that the DFS issue you a 2-40 license, and that could be done without your having to sit for another exam. In effect the health part of your 2-20 license is "stripped out" and you're issued the 2-40 license. If you were issued the 2-40 license the good news is you can write health insurance and you didn't have to take that onerous DFS exam in order to do it. The bad news (sort of) is you now have a CE requirement whereby you must earn 50% of your hours in classes approved for "health insurance only." A course approved for "life and health" would not count towards any of your CE. Courses approved for "generic" would count though. If you didn't get the health CE hours then your appointments with health insurance companies would be cancelled by the DFS. You'd be able to get that 2-40 appointment back at a later date if you obtained the necessary hours and paid the $250 "stipulation agreement fee" to the DFS. You'd also be back where you were with the ability to write health insurance for the company (Travelers in this example) with whom you also were appointed for P&C. Finally, you'd only have the 2-20 license so you'd need CE for that license only. David Thompson 1/27/06 |
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