However, my employer says I can't cancel my policy. The Federal tax code generally limits changes to pre-tax benefit selections to specific qualifying events. Consult your employer or plan administrator regarding permissible benefit changes. The Florida Health Insurance Coverage Continuation Act requires insurance companies to offer an 18-month continuation for groups of less than 20 employees. However, the employee must request the extension within 30 days of termination.
Instructions are in the policy.
The company I am insured with has filed bankruptcy. Generally speaking, unless your plan was self-insured, the claims will probably be covered under the Florida Life and Health Insurance Guaranty Association. However, you may need to look for another insurer to obtain coverage for future claims. I only have 10 employees. The Florida Health Care and Insurance Reform Act of 1993 was established specifically for wage earners in small businesses because employees need health care benefits.