Retirement income can affect your eligibility for Medi-Cal, California’s Medicaid program. However, not all retirement income is counted the same. Here is a detailed look at how different types of retirement income are treated when determining eligibility for various Medi-Cal programs. Overview of Medi-Cal Medi-Cal provides free or low-cost health coverage to low-income California residents. … Read more
300k CSL stands for $300,000 Combined Single Limit insurance. This refers to an auto insurance liability coverage that provides up to $300,000 total for any accident claim involving bodily injury and property damage. What is Liability Insurance? Liability insurance covers you if you are legally responsible for injury or damage suffered by another person. There … Read more
When shopping for homeowners insurance, you’ll likely come across the term “guaranteed replacement cost”. This refers to a policy feature that provides extended coverage to rebuild your home in the event of a total loss. But does State Farm offer guaranteed replacement cost coverage? The answer is yes, State Farm does offer guaranteed replacement cost … Read more
When a permanent life insurance policy lapses due to nonpayment of premiums, policyholders have certain options under the nonforfeiture clause to still receive some value from the policy. But which option provides the highest amount of continued life insurance protection? The nonforfeiture option that provides the highest level of continued insurance coverage is the extended … Read more
Medicare Advantage plans provide you with your Medicare Part A and Part B coverage, and often Part D prescription drug coverage as well. These plans are offered by private insurance companies approved by Medicare. If you join a Medicare Advantage Plan, you still have Medicare but you get your Part A, Part B, and usually … Read more
The effective date is one of the most important dates on any insurance policy. It indicates the date that the policy’s coverage will start. Knowing your health insurance effective date can help you avoid costly surprises and ensure you have coverage when you need it most. When Coverage Starts The effective date is the first … Read more
TRICARE is the health care program for uniformed service members, retirees, and their families. Up until 2018, TRICARE was divided into three regions – North, South, and West. In 2018, the regions were consolidated into two – East and West. TRICARE East and West are managed by different contractors, cover different geographic areas, and have … Read more
High deductible health plans (HDHPs) paired with health savings accounts (HSAs) have become increasingly popular options for health insurance. HDHPs typically have lower monthly premiums than traditional plans, but higher deductibles you must pay out of pocket before coverage kicks in. HSAs offer unique tax benefits that allow you to set aside pre-tax or tax-deductible … Read more
Managed care refers to a system that integrates the financing and delivery of healthcare services to patients in order to control costs and improve quality. Managed care organizations (MCOs) contract with groups of providers to form networks that patients must use to receive coverage. There are many potential benefits of the managed care model: Cost … Read more
When you make an auto insurance claim after an accident or incident, you are responsible for paying the deductible amount before your insurance coverage kicks in. But what if the cost to repair the damage is actually less than your chosen deductible? This situation presents a dilemma. Should you pay the full repair bill yourself … Read more