Life · Chapter 8 · Plans & Participation
Noncontributory Plan
Definition
The employer pays the entire premium. Florida requires the policy to insure all eligible employees — except anyone whose evidence of insurability the insurer finds unsatisfactory, and except anyone who rejects coverage in writing (F.S. 627.552(2)). Because enrollment is automatic, this is the best protection against adverse selection; exam material rounds it to "100% participation."
Easy to confuse with
These are what this term gets tested against — if you can't tell them apart cold, drill the contrast.
Related terms