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
Dealing with insurance claims can be confusing, especially when you see your claim has a “pending” status. This article explains what a pending claim means and the reasons insurers use this designation before approving or denying a claim. What Does “Pending” Mean for an Insurance Claim? When an insurance claim is marked as “pending”, it … Read more
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
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
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
When a loved one passes away, dealing with financial matters can be overwhelming. You may receive life insurance proceeds to help cover final expenses and provide financial security. But do you have to pay taxes on this payout? And will you receive a 1099 form for the proceeds? Understanding the tax implications can help you … Read more
Getting into a scrape or fender bender can be upsetting, especially if it’s your fault. You’ll likely need to pay for repairs, but will it also make your car insurance rates go up? Here’s what to expect if you scratched someone else’s car and how it impacts your auto insurance costs. Will Insurance Rates Increase … 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
Car insurance rates tend to increase as drivers get older, with significant hikes often occurring after age 75. This is due to higher risks and costs associated with insuring elderly drivers. While frustrating, being aware of when and why rates increase can help you budget accordingly and shop for the best rates. Why Rates Rise … Read more
Mold can be a headache for homeowners. If left unchecked, it can cause extensive damage to your home. So does your USAA homeowners insurance policy cover mold? The short answer is yes, USAA homeowners insurance can provide coverage for mold damage under certain conditions. In this article, we’ll explain exactly how USAA covers mold, key … Read more