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FL H0721
Bill
Status
Passed
5/26/2023
Primary Sponsor
Commerce Committee
Click for details
AI Summary
- Authorizes life insurers to transact paid family leave insurance in Florida by amending s. 624.406, F.S., adding it alongside health insurance and disability income insurance as a permitted line of business
- Creates a new insurance product (s. 624.6086, F.S.) that employers may purchase to cover a percentage of an employee's income loss due to the birth or adoption of a child, foster care placement, care of a family member with a serious health condition, or a family member's military active duty service
- Requires policies to provide a minimum benefit period of 2 weeks during any 52 consecutive calendar weeks and to specify covered circumstances, benefit amounts, waiting periods, wage calculation methods, any offsets, and payment frequency
- Permits limitations, exclusions, or reductions of benefits under specified circumstances, including when the employee has not provided required notice/medical certification, performed work for pay during the leave period, or is eligible for other benefits such as workers' compensation or unemployment insurance
- Subjects paid family leave insurance policy forms and riders to review by the Office of Insurance Regulation, requires rates to be calculated under s. 627.062, and authorizes the Financial Services Commission to adopt implementing rules; effective upon becoming law
Legislative Description
Paid Family Leave Insurance
Last Action
Chapter No. 2023-149
5/26/2023
Committee Referrals
Commerce Committee3/28/2023
Appropriations3/16/2023
Insurance And Banking Subcommittee2/21/2023
Full Bill Text
No bill text available