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
Getting car insurance can be tricky when you’re in a relationship but not married. You may be wondering if you can add your boyfriend, girlfriend, fiancé, or domestic partner to your policy if you don’t have a marriage certificate. The good news is, most car insurance companies allow unmarried couples to get a joint policy, … Read more
When you receive medical care and file a claim with your health insurance company, you may notice that the amount your provider charged doesn’t match what your insurance paid. This difference is due to the allowed amount set by your insurer. The allowed amount, sometimes called the eligible expense, is the maximum dollar amount an … Read more
The cash surrender value of a life insurance policy can decrease for several reasons. Understanding what impacts cash surrender value is important if you ever need to cash out your permanent life insurance policy. What is Cash Surrender Value in Life Insurance? Cash surrender value refers to the amount of money you would receive if … Read more
Self-insuring your home means foregoing traditional home insurance and instead using your own money to cover any losses or damages. While self-insuring may seem like a way to save on insurance premiums, it carries significant financial risks that make it impractical for most homeowners. What is Self-Insuring a Home? Self-insuring your home means you have … 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