FSCO’s Licensing Process for Service Providers Has Begun
0 June 2, 2014 at 8:54 pm by Willie HandlerThe licensing process for auto insurance service providers, first recommended by the Auto Insurance Anti-Fraud Task Force in 2012, has officially begun. As of June 1, the application process was opened up by FSCO. Service providers must be licensed by December 1 to continue to use HCAI and bill insurers directly. As well, FSCO states that an application received after August 31 may not be processed before December 1. Service providers can apply as a:
- Sole proprietor
- Partnership
- Corporation
The application fees are now available as well. There is a one-time application fee of $337. Then there is a annual regulatory fee that is tied to the volume of business conducted with auto insurance companies. Service providers will be charged $15 for each claimant in the system in the calendar year plus $128 for each location it operates from.
So a chiropractor that sees 2 auto insurance claimants per month and operates one clinic will pay:
($15 * 24) + $128 = $488.
A larger provider operating from 5 locations with each location accepting 40 new claims a month will pay:
($15 * 2400) + ($128 * 5) = $36,640.
Regulatory fees will be payable on April 1, 2015 and will be prorated from December 1, 2014 (four months).
For more information check the FSCO website.
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