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Dear Fellow Floridian:
As we
near the launch of the Affordable Care Act on October 1, it is important
for consumers to be aware of the potential for scams. Reports have already
emerged of callers and other solicitors posing as government agency
representatives and asking for personal information or contacting
consumers saying that they have been selected as one of the first
Americans to receive the new health insurance cards as part of the
Affordable Care Act. The Federal Trade Commission reports nearly 83,000
complaints of 'imposter' scams occurred in 2012 alone. Additional reports
state that some scammers have gone as far as creating entire false
enrollment websites and setting up bogus toll-free numbers.
Consumers
can protect themselves by keeping in mind that no one can apply for
coverage under the Affordable Care Act, compare plans or receive any
enrollment documentation before October 1, 2013. Anyone who claims to offer
an earlier application for coverage is trying to scam you.
For
consumers concerned about the arduous requirements of the new law, my
Department's Division of Consumer Services has launched a new webpage
about the ACA and will be hosting educational webinars for small business
owners. For information about the webinars, visit http://www.myfloridacfo.com/Division/Consumers/HealthReform.htm.
In
addition to the webinars, consumer helpline specialists are available to
personally  answer questions about the ACA
regarding eligibility requirements, the enrollment process and periods,
available health plans and qualification requirements for the premium
assistance tax credit. The toll free helpline number is 1-877-MY-FL-CFO
(1-877-693-5236) and is available Monday through Friday from 8:00 a.m. to
5:00 p.m. with assistance in English, Spanish and Creole.
As
your Chief Financial Officer, I stand committed to offer you the
necessary resources to understand how the new law will impact your family
and your business.
Jeff
Atwater
Chief Financial Officer
State of Florida
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News of Interest
Reuters:
Better days lie
ahead for the U.S. economy
Florida
Trend: Florida's I-4
Corridor is a High Tech Hotbed
Sun-Sentinel:
Fort Lauderdale
moves up on 'hottest hub' list
Sun-Sentinel:
Two Florida colleges
ranked among 50 best in U.S.
Miami
Herald: Developers build
thousands of units amid demand for leasing
Tampa
Bay Business Journal: Tampa a top 10
city for influx, moving company says
Jacksonville
Business Journal: Is Florida
becoming a national biosciences hotspot?
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IASIU Awards 2013 Public Service of the Year Award to
Florida Investigator
This
week, Florida Division of Insurance Fraud Detective Dwight Murphy was
awarded the 2013 Public Service of the Year Award by the International
Association of Special Investigative Units (IASIU) during their 2013
Seminar held in Atlanta, Georgia. 
Detective
Murphy has been with the Department of Financial Services' Division of Insurance
Fraud since May 2008 and has more than 30 years of law enforcement
experience. During his time with the division, he has distinguished
himself as an outstanding detective. He has made nearly 120 arrests
involving charges for Application Fraud, Identity Theft, Grand Theft,
Life Insurance Fraud, Forgery, Organized Scheme to Defraud, Continuing
Criminal enterprise (RICO), Florida Communication Fraud, Insurance Fraud
and PIP Fraud resulting in court ordered restitution of over $39 million.
Read
more about Detective
Murphy's recognition.
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Settlement Agreement with Transamerica
Florida
Insurance Commissioner Kevin McCarty announced Wednesday that a life
claim settlement agreement has been reached with Transamerica Life
Insurance Company and its affiliates.
The
Transamerica settlement represents the eighth life claim settlement
agreement for Florida. Presently, state insurance regulators have either
reached settlements or concluded the investigation of nine of the top 20
companies constituting over 45 percent of the total market. Nationally, the
priority is focused on the remaining examinations of more than 30 top
life and annuity insurers in this market.
All
of the settlements concentrate on the insurers' asymmetrical use of the
U.S. Social Security Death Master File (DMF) and the practice of using it
to stop paying a deceased person's annuity, but not using it to search
for beneficiaries of a life insurance policy to determine if benefits
were due. As part of the settlement agreements, insurers are now required
to use it in locating beneficiaries and must promptly remit payment to
the unclaimed property division of each state for beneficiaries that
cannot be located.
As a
result of this process, regulators predict the overall anticipated
payouts will eventually reach up to $3 billion to beneficiaries directly
and through the states. The estimated amount of property to be reported
nationally for the Transamerica settlement is $137 million.
'As a
result of this agreement and our continuing efforts to help consumers
dealing with wrongful insurance company practices, Florida families will
finally be able to receive the money they are owed,' CFO Atwater said.
'We will continue to be diligent in our efforts to ensure insurance
companies meet their financial obligations.'
For
more information about this issue, visit the Office of Insurance
Regulation's Life Claims
Settlement Practices website page. To search for or
claim unclaimed property, visit www.FLTreasureHunt.org,
or call 1-88-VALUABLE or (850) 413-3089.
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Innovation Drives Florida's Economy
Florida
has worked hard to create an environment for long-term growth and
investment that allows businesses to better serve their  communities
and employ more of their neighbors. This culture of economic innovation
has helped Florida to be recognized as the "Most Innovative State in
the Nation" by Fast
Company magazine this year.
Beginning
with its edition on biotechnology, Florida's
Bottom Line is presenting a three-part series on Innovative
Florida, highlighting the people and industries that
are driving our future as a diversified economy. We are now recognized as
one of the most attractive areas worldwide for the biotechnology
industry, with more than 200 biotechnology companies calling Florida
home.
The
quarterly edition of Florida's
Bottom Line is complemented by its often-updated website, www.MyFloridaCFO.com/FloridasBottomLine.
When new economic data is released, it can be found here. Florida's
consumer confidence, retail index, employment statistics and various
other resources will keep you up-to-date.
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