In the complex world of insurance, you’ve likely come across the term “MGA” without knowing exactly what it means. MGA stands for managing general agent, a specialized role within insurance markets. Keep reading to understand what an MGA is, what they do, and how they can benefit insurance brokers and policyholders. What is an MGA? … Read more
Medicare has different parts and options for coverage. Premium costs can vary based on the specific Medicare coverage you have. However, some people qualify to enroll in certain parts of Medicare without paying premiums. Understanding Medicare premium costs and eligibility for premium-free coverage can help you evaluate your options and budget for healthcare expenses in … Read more
Single member LLCs are increasingly popular business structures for freelancers, consultants, and solo entrepreneurs. A key question for many single member LLC owners is whether they can deduct health insurance premiums for themselves and their families. The answer depends on several factors related to the LLC’s tax status, who the premiums cover, and what type … Read more
Dealing with insurance companies after an accident, injury, or loss can be frustrating and confusing. You likely just want to get your claim settled and move on with your life. But often the insurance company says they need to do an “investigation” first. What exactly does this entail? Here’s an in-depth look at what an … Read more
Paying off your insurance premium can seem like a great milestone. You no longer have a recurring payment to worry about every month or quarter. But what actually happens when you pay off your insurance early? Does your coverage stop? Do you still need insurance? Overview of Paying Off Insurance Early Let’s start with a … Read more
Health insurance is commonly offered as an employee benefit by many companies. But in some cases, employees may want to opt out and decline coverage through their employer. So can you actually decline health insurance offered by your employer? The short answer is yes – employees can refuse employer health insurance coverage and waive participation … Read more
Medicare Supplement, also known as Medigap, plans can be quite expensive depending on where you live and which company you purchase from. A lot of seniors are shocked when they start shopping for Medigap plans and see premiums of $150, $200, or even $300 per month. That can add up to thousands of dollars per … Read more
If you’ve been in a car accident and filed an insurance claim, you may have the option to get a cash settlement from your insurer rather than having them repair your vehicle. But what exactly does this mean? A cash settlement is when the insurance company pays you a lump sum of money rather than … Read more
The Affordable Care Act (ACA) requires employers to report the cost of health insurance coverage on employees’ W-2 forms. This reporting helps employees understand the value of their employer-provided health benefits. What is Form W-2? The W-2 is an annual tax form that employers must send to employees and the IRS at the end of … Read more
Blue Cross Blue Shield (BCBS) health insurance plans provide coverage worldwide, though benefits vary depending on your specific plan. Most BCBS members have emergency medical coverage while traveling abroad. Some plans offer more comprehensive overseas benefits, including global networks of providers and support services. Domestic BCBS Coverage BCBS is made up of 36 independent and … Read more