Using someone else’s medical insurance may seem like an easy way to get healthcare coverage, but it is actually illegal and can have serious consequences. This article will explain why you should never use another person’s insurance, the penalties you may face, and legal options to get your own affordable healthcare coverage. Why You Should … Read more
Property and casualty insurance provides protection against loss or damage to property as well as legal liability. Homeowners insurance, auto insurance, and business insurance are all common types of property and casualty coverage. The process of evaluating risks and determining appropriate premiums for property and casualty policies is known as underwriting. Below we’ll explain exactly … Read more
The health care workforce is a vital part of the United States economy and provides essential services to the population. But how many health care providers are there actually in the US? In this comprehensive guide, we’ll examine the latest data and statistics to understand the size and composition of the health care workforce. Overview … Read more
The Medicare refund rule refers to federal regulations that require healthcare providers to report and return any Medicare overpayments within a specified timeframe. This rule, which was enacted as part of the Affordable Care Act in 2010, is an important mechanism to ensure program integrity and prevent fraud, waste and abuse in the Medicare system. … Read more
Insurance company failures can be distressing events for policyholders. However, safeguards exist to protect consumers if their insurer becomes insolvent. This article provides an overview of what happens when an insurance company fails and how states regulate and support policyholders when insolvencies occur. How Insurers Fall Into Financial Trouble Insurance companies can fail for several … Read more
An insurance contract involves a legally binding agreement between an insurance company and a policyholder. For the agreement to be valid and enforceable, it must contain certain essential elements as required by insurance law and regulations. This article provides an overview of the key elements that comprise an insurance contract. Basic Contract Elements Like all … Read more
If you receive Medicare benefits and suffer injuries in an accident caused by someone else, you may be able to pursue compensation through a personal injury claim or lawsuit. However, if Medicare covered treatment for your accident-related injuries, they may seek reimbursement from any settlement you receive. So how much can Medicare take? Below we’ll … Read more
Medicare Part B and Part D premiums are recalculated annually based on updated financial information. This means the premium amounts can change from year to year, sometimes increasing substantially. Understanding why the premiums are recalculated each year and what triggers changes can help beneficiaries evaluate if they are being charged the right amount. Overview of … Read more
Stacked insurance is an option that can provide drivers with extra protection in the event of an accident with an uninsured or underinsured motorist. By combining or “stacking” coverage from multiple vehicles or policies, you can increase the limits of your uninsured/underinsured motorist (UM/UIM) coverage. But what if you only have one car? Is stacked … Read more
The standard Part D benefit refers to the basic structure and parameters of coverage that Medicare prescription drug plans must offer. When Medicare’s voluntary outpatient drug benefit, known as Part D, launched in 2006 it established this standard benefit design. While plans have flexibility to modify the standard benefit, it serves as a consistent benchmark … Read more