Lesson 5! I'm really tired of these basics but I have to keep typing these out. Maybe others will follow my lead and write dumb study fics. If you're wondering where a few other fictional characters that I like are, I will say that I'm saving them for a special part of the health insurance basics that made me think of them. But expect ridiculous crossovers and 4th wall breaking.

Federal Regulations

Big Hero 6 plus Tadashi all sit on the couch, wishing they were anywhere but here. But their overlord Katie really wants this insurance job. So they are pawns in her master plan and if she has to suffer, so do her fictional characters, even if they're not strictly hers. Speaking of which, her own characters are due to make an appearance. At some point.

BAYMAX: It is time to move on to our next lesson, Federal Regulation. Let us talk about the laws surrounding insurance. The first law I shall cover is the Fair Credit Reporting Act (FCRA), which was enacted and became law on April 25th, 1971. It was designed to improve the confidentiality, usage, and accuracy of Credit Reports. The law was administered and enforced by the Federal Trade Commission. It protects consumers from receiving inaccurate or outdated information.

TADASHI: Okay, I think I got this. Pretty much, the FCRA was designed to make sure that credit reports are up to date on confidentiality, usage, and accuracy so that consumers won't receive the wrong or outdated information. Remember: the FCRA ensures that all credit reports are accurate and updated.

BAYMAX: Excellent. You are picking up this insurance business fast, Tadashi.

TADASHI: Well I'm a fast learner.

BAYMAX: Moving on, Consumer Reports contain written information regarding a consumer's character, credit, reputation, habits, and lifestyle. The information is collected by a reporting agency from an employee's records, Credit History Reports, or other available public references.

FRED: So a Consumer Report collects information on the consumer's lifestyle so that their possible risks can be identified. Like a smoker would pay a higher premium?

BAYMAX: That is correct. Smoking is a very unhealthy habit. Remember: a Consumer Report collects information on the consumer to identify risks. An Investigative Consumer Report is more thoroughly investigated than the Consumer Report. The report contains non-medical information about an applicant's character, personal habits (including interviews with neighbors and friends). The reports cannot be made unless an insured is advised in writing within 3 days of the date the report was requested. An insurer or reporting agency has 5 days to provide an insured with any requested additional information.

FRED: So it's like that show, Monk. You know, the one about the detective with OCD. He's always questioning people to find out who did the crime from the show, figuring out all the information about the suspects and victim that he can so he can piece together who, what, where, when, why, and how.

GOGO: You watch Monk?

FRED: Monk is our overlord's favorite show.

TADASHI: Ahh of course. Therefore we suddenly and inexplicably have seen every episode multiple times.

WASABI: Actually I loved Monk even before Katie started controlling my every action. It's great!

HONEY: Why's that her favorite, shouldn't it be something animated based on her obsessions with Disney movies?

HIRO: You'd think so but nope. It's Monk. And I have the sudden urge to suggest it to a group of readers who may be watching our every move through a fanfiction site. Especially this girl named... Emily.

GOGO: Who's Emily?

HIRO: An alternate overlord, it seems.

FRED: Should we fear her as we fear Katie?

TADASHI: No, we must fear Amanda. Especially you, Gogo. Apparently she is trigger happy and enjoys putting us through horrible, depressing scenarios. And she ships us. Which means one of us is likely to die a horrible death.

TINTIN: RUN WHILE YOU STILL CAN!

LOKI: SAVE YOURSELVES!

HONEY: Who was that?

GOGO: No idea.

HONEY: Are we ever going to mention this again?

GOGO: Nope.

BAYMAX: I am sorry to interrupt but what do Overlords Amanda and Emily have to do with Investigative Consumer Reports?

HIRO: Sadly nothing. Proceed.

BAYMAX: To recap, an Investigative Consumer Report is an investigation on the personal life of the consumer. Both the Consumer and Investigative Consumer Report can only be used by someone with a legitimate business purpose. Both the reporting agencies and the users of the information are subject to civil action for failure to comply with the provisions of the Fair Credit Reporting Act. If businesses unknowingly violate the Fair Credit Reporting Act-

TADASHI: The FCRA!

BAYMAX: Correct. If they violate it, they are liable to attorney fees and the amount of loss. If the willfully show proof of violating an act as a general business practice, they may be subject to a maximum fine of $2500. The consumer has the right to know what is in the report but does not necessarily have a right to have an actual copy of the report.

TADASHI: Basically... don't use it for your own gain.

BAYMAX: Essentially.

HIRO: Great. What else is there to learn?

BAYMAX: I am glad you asked. The Employment Retirement Income Security Act (ERISA) was passed by the Federal Government to ensure all employees receive their benefits and pensions promised by their employers.

HONEY: That's all there is to it?

WASABI: Shouldn't there be a longer definition?

BAYMAX: The rest is pointless legal jargon and our overlord doesn't want to type information she's unlikely to need. Remember: the ERISA exists to ensure employees receive benefits and pensions that were promised.

FRED: Wow. That's very simple.

HIRO: Ten bucks says she'll forget it on the day of the test.

GOGO: I don't need to bet. I know she will.

TADASHI: Come on, guys, give her some more credit.

HIRO: You're just saying that because she loosely based an OC on you.

TADASHI: Impossible. I didn't exist when she created said OC.

HIRO: Yeah but you contributed to him and now he's the most universally loved one she's written.

BAYMAX: I hate to interrupt again but I do believe there are more terms to cover. Consolidated Omnibus Budget Reconciliation Act of 1985 passed by Congress states that an employer with 20 or more employees must provide notification statements to eligible individuals to extend their group coverage to terminated employees and their families after a qualifying event, when their plan becomes subject to COBRA and annually while covered under COBRA. Remember: COBRA may be a confusing term so look for key words like terminated employees and that the employee can be required to pay no more than 102% of the premium.

TADASHI: Okay then.

BAYMAX: You all know what Fraud is. If someone has been convicted of a crime related to dishonesty, breach of trust, or a violation of the Violent Crime Control and Law Enforcement Act of 1994 to work in a business affecting interstate commerce.

HIRO: Put simply, you're not allowed to work in insurance if you have been convicted of a crime related to dishonesty or a breach of trust.

BAYMAX: Correct. Any licensed person who intentionally makes false statements related to insurance business and it affects interstate commerce, the agent must be fined and imprisoned for up to 10 years.

WASABI: That's harsh.

BAYMAX: If their action jeopardized the security of an accompanied insurer, the agent may be fined and punishment can be imposed for up to 15 years.

HONEY: Wow. So be honest.

BAYMAX: Honesty is the best policy. Finally, the Do Not Call List refers to a list created by the Federal Trade commission and the Federal Communication Commission that permits consumers to include their phone numbers on a list not allowed to be used by telemarketers. Organizations must refer to the Do Not Call List every 31 days. Any number on the list must be omitted from a company's call list.

TADASHI: Yeah, I think Aunt Cass is on that because we used to get calls from a ton of telemarketers.

BAYMAX: This concludes the fifth portion of this chapter. There is one left before we can move onto chapter 2. Other chapters I will cover will be 4, 5, and 12.

HIRO: Great.

WASABI: This has been really enlightening.

FRED: I know. I will never see insurance the same way again!

Wow that was a lot of tangents but it's almost 3 am here and I'm worried about my sister, whose birthday is tomorrow. My sister is Overlord Amanda.

Hope this series hasn't gotten boring yet!

~KateMarie999