Original Medicare typically covers 80% of the Medicare-approved amount for covered medical services, after you meet the Part B deductible. As a Medicare beneficiary, you are responsible for paying the remaining 20% coinsurance. However, with a Medicare Advantage plan, your out-of-pocket costs are structured differently. The 20% Coinsurance in Original Medicare Under Original Medicare Part … Read more
Drivers under 25 years old typically pay much higher auto insurance rates than older drivers. There are several reasons why car insurance costs more for young drivers under 25. The main factors leading to expensive auto insurance for young drivers include: Lack of driving experience Increased risk of accidents Distracted driving behaviors Overconfidence behind the … Read more
Preferred provider organization (PPO) plans are a popular type of health insurance in the United States. As of 2020, over 59 million Americans were enrolled in a PPO plan. PPO plans offer members flexibility in choosing health care providers. They also typically have copays and deductibles like other types of private health insurance. So do … Read more
UnitedHealthcare is one of the largest health insurance providers in the United States and also offers coverage options for residents of Puerto Rico. Here is an overview of UnitedHealthcare’s presence in Puerto Rico and details on plan options, provider networks, and how to get the most out of your UnitedHealthcare health plan if you live … Read more
Claims adjustment is the process of investigating, evaluating, and settling insurance claims. The purpose is to determine if the insurance company is liable for a loss under the terms of its policy and if so, what amount should be paid to the policyholder. Claims adjusters play a vital role in this process. Who Are Claims … Read more
Medicaid and Health Savings Accounts (HSAs) are two different healthcare programs that serve different purposes. However, their eligibility requirements overlap in a way that affects whether someone on Medicaid can contribute to an HSA. What is Medicaid? Medicaid is a public healthcare program that provides health coverage to low-income individuals and families. It is jointly … Read more
Insurance policies provide financial protection and peace of mind in the event of unexpected losses. There are many different types of insurance available to cover a wide range of needs. Here is an overview of the most common forms of insurance that individuals and families may want to consider purchasing. Auto Insurance Auto insurance is … Read more
When researching business insurance policies, you may come across terms like “general aggregate” and “umbrella coverage” used in relation to liability protection. But what do these terms actually mean, and are general aggregate and umbrella coverage referring to the same thing? The short answer is no – general aggregate and umbrella are two distinct concepts … Read more
Paying your insurance premiums on time is crucial to keep your policy active and maintain coverage. Insurance companies provide policyholders several options when it comes to how and when you pay your premiums. Below are the main methods of payment for insurance premiums. Modes of Premium Payment The mode of payment refers to the frequency … Read more
If you’ve ever filed an insurance claim, you may have wondered – do insurance companies share information about claims with each other? Can details about your claim history impact your rates and coverage with other insurers down the road? The short answer is yes – insurance companies do communicate information about customer claims amongst themselves, … Read more