Original Medicare consists of Part A, which covers hospital services, and Part B, which covers outpatient services like doctor visits and medical equipment. Medicare establishes an approved amount it will pay for each Part B service. However, providers who do not accept Medicare assignment can charge up to 15% over this amount, known as excess … Read more
Producers and agents who sell Medicare supplement insurance or long-term care insurance have important requirements regarding replacement notices that must be provided to applicants. These notices ensure consumers understand the consequences of replacing an existing policy and prevent inappropriate replacements. Let’s take a closer look at when producers must deliver notices about replacement coverage. Medicare … Read more
Life insurance provides financial security and peace of mind for you and your loved ones. However, it’s estimated that over $1 billion in life insurance benefits go unclaimed each year because beneficiaries are unaware of existing policies. If you suspect there may be a life insurance policy with your name on it, there are steps … Read more
Social Security benefits are an important source of income for many retirees. But how much you receive each month depends on your lifetime earnings and when you start taking benefits. For those earning around $25,000 annually, your Social Security checks may be reduced based on your income. Here’s what to know about how much Social … Read more
Owning a car can be expensive, especially when it comes to insurance. If you co-own a car with someone else, you may wonder if you both need separate insurance policies. The short answer is no – you do not necessarily need two policies to fully cover a jointly owned vehicle. However, there are some important … Read more
Getting into a car accident can be stressful and confusing. Knowing what to do after an accident will make the claims process smoother. Follow these 3 key tips when filing your auto insurance claim: 1. Gather Evidence and Documentation Having the right information on hand will help support your claim. Be sure to collect: Contact … Read more
Medicare offers vital health coverage for Americans aged 65 and over. But higher-income seniors pay more for certain parts of Medicare based on their earnings. So what are the income limits before you’ll owe surcharges? Medicare uses a tiered system of income brackets to determine who pays standard premiums versus extra costs. The 2023 income … Read more
Medical costs can vary tremendously across different countries. Some nations provide universal health coverage to all citizens, while others have privatized models. When looking worldwide, which country has the most expensive health care system? The United States Has the Highest Health Expenditures The United States spends more on health care than any other country. According … Read more
Saving enough for retirement is one of the most important financial goals for many people. With people living longer than ever, retirement can last 20 years or more. Having adequate savings in your 401k and other accounts is crucial to maintaining your standard of living in retirement without outliving your money. So how much 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