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The act provided for a group life insurance policy for most federal employees, similar to those provided for employees of most large industries. The act established the Federal Employee Group Life Insurance (FEGLI) program, which covers over 4 million federal employees and is the largest group life insurance program in the world. [3]
In contract law, a severable contract (or "divisible contract") is a contract that is composed of several separate contracts concluded between the same parties, such that failing one part of such a 'severable' contract does not breach the whole contract. Therefore, the other party must still honor the other subparts and cannot cancel the whole ...
The McCarran–Ferguson Act, 15 U.S.C. §§ 1011-1015, is a United States federal law that exempts the business of insurance from most federal regulation, including federal antitrust laws to a limited extent. The 79th Congress passed the McCarran–Ferguson Act in 1945 after the Supreme Court ruled in United States v.
Insurance regulatory law is the body of statutory law, administrative regulations and jurisprudence that governs and regulates the insurance industry and those engaged in the business of insurance. Insurance regulatory law is primarily enforced through regulations, rules and directives by state insurance departments as authorized and directed ...
The Child and Adult Care Food Program (CACFP) is a type of United States federal assistance provided by the U.S. Department of Agriculture (USDA) to states in order to provide a daily subsidized food service for an estimated 3.2 million children and 112,000 elderly or mentally or physically impaired adults [48] in non-residential, day-care ...
The first health coverage in the United States was established by Congress in 1798, when the Marine Hospital Fund was financed through a tax on maritime sailors' pay. [24] Accident insurance was first offered in the United States by the Franklin Health Assurance Company of Massachusetts.
The Workers' Accident Insurance system put into place by Otto von Bismarck in Germany in 1884 is often cited as a model for the rest of Europe and later the United States. [5] In the late 19th and early 20th century, U.S. policymakers, journalists, and social scientists convinced of the need for a compensation law disagreed over whether the ...
In the United States, a self-funded health plan is generally established by an employer as its own legal entity, similar to a trust.The health plan has its own assets, which, under the Employee Retirement Income Security Act of 1974 (“ERISA”), must be segregated from the employer's general assets.