Lending your car to a friend or family member is often an act of kindness and convenience. However, it can also lead to complications when it comes to your car insurance coverage. Here’s a comprehensive guide on how insurance works when you let someone else drive your car. Your Insurance Is Primary The most important … Read more
The insurance claims ratio is a critical metric used to gauge the profitability and health of insurance companies. But what exactly does this ratio tell us and why does it matter? This comprehensive guide provides an in-depth look at what the insurance claims ratio is, how it’s calculated, how to analyze it, and tips for … Read more
Payers play a critical role in the US healthcare system by facilitating payments between patients and providers. But who exactly are the major payers in healthcare? This in-depth guide examines the key payers in the system, the services they provide, and how they influence care delivery and costs. What is a Healthcare Payer? A healthcare … Read more
Medicare coordination of benefits with secondary insurers is a complex process that often leaves beneficiaries wondering if their claims will automatically crossover. The short answer is sometimes Medicare will automatically forward claims, but the rules vary depending on your situation. This article provides an in-depth look at how Medicare claim crossover works, when you can … Read more
Getting notice that your insurance company intends to cancel your policy can be stressful and disruptive. Most states have laws regulating how much advance warning insurers must provide policyholders before dropping their coverage. This article examines the typical cancellation notice periods for different insurance policies and what steps you can take if your insurer moves … Read more
Medicare beneficiaries interested in Medicare Advantage plans sometimes wonder if they can enroll in more than one plan at the same time. The short answer is no – you can only be enrolled in one Medicare Advantage plan at a given time. Here’s an overview of the rules around multiple Medicare Advantage plan enrollment and … Read more
Having multiple health insurance plans can get confusing when it comes to who pays what. Specifically, many wonder if they can use their secondary insurance to cover copays required by their primary insurer. Unfortunately, the coordination of benefits rules do not allow billing a secondary plan for the primary’s copay. This article provides an overview … Read more
Medicare is indeed a third-party payor for healthcare expenses. As one of the largest public health insurance programs in the United States, Medicare covers over 60 million Americans aged 65 and older and younger people with certain disabilities. When people with Medicare receive medical care, Medicare pays most of the bill directly to healthcare providers, … Read more
Homeowners insurance provides protection for your home against damages caused by covered perils like fire, theft, storms, and more. It covers repairs and reconstruction costs if your home is damaged. But what if something happens to your home when you don’t have an active insurance policy? Can you get homeowners insurance to cover pre-existing damages? … Read more
Co insurance is a common clause in many property insurance policies that requires the policyholder to carry a certain amount of insurance coverage relative to the total value of their property. If the insured does not maintain adequate limits, they may be penalized through co insurance in the event of a claim. This article explores … Read more