When you lose employer-sponsored health insurance, continuing coverage through COBRA can be very expensive. COBRA allows you to keep your same plan for 18-36 months, but you pay 100% of the premium plus a 2% administrative fee. This can cost $500-$2000 per month for family coverage. Fortunately, there are cheaper alternatives to COBRA you can … Read more
Fronting is an arrangement between a licensed insurance company and a self-insured organization or captive insurer. It allows the self-insured or captive to issue policies while avoiding certain regulations and requirements. What is Fronting? Fronting refers to when a licensed, admitted insurance company issues policies on behalf of an unlicensed insurer. The fronting company provides … Read more
Giving out your Medicare number over the phone can open you up to fraud, waste, and abuse. Medicare and other government agencies advise extreme caution before sharing this sensitive information. What is the Medicare Number? The Medicare Number is the unique identification number assigned to each Medicare beneficiary. It consists of 11 characters – letters … Read more
The income thresholds that trigger IRMAA surcharges for Medicare Part B and Part D premiums increased significantly for 2023. This means more Medicare beneficiaries will pay extra premiums based on their income. What is IRMAA? IRMAA stands for Income Related Monthly Adjustment Amount. It is an extra premium charged to Medicare Part B and Part … Read more
Allstate is one of the largest insurance providers in the United States, offering policies for auto, home, renters, life and more. With millions of customers nationwide, Allstate aims to provide quality coverage at competitive prices. One common question from prospective customers is: Does Allstate offer a military discount? The short answer is yes, Allstate does … Read more
Obamacare, officially known as the Affordable Care Act (ACA), has gone through many changes since it was first introduced in 2010. As we head into 2023, many are wondering if health insurance plans on the ACA Marketplace will become more expensive next year. Premium Trends on the ACA Marketplace The ACA Marketplace offers health insurance … Read more
The COVID-19 pandemic caused enormous financial hardship for many Americans. In response, the government provided several rounds of stimulus checks to help offset the economic impacts. Now in 2024, some are wondering if seniors will receive another stimulus payment this year. Background on Prior COVID Stimulus Checks for Seniors The U.S. government initiated several stimulus … Read more
Finding home insurance can be a frustrating experience if you own a high-risk property that insurers consider too risky to cover. If you are struggling to find basic homeowners insurance for your house, there are still several options you can explore. In this comprehensive guide, we will cover: Why Insurers May Decline Home Insurance Tips … Read more
Providing health insurance is an expected benefit at many companies today. However, the costs of traditional group health plans can be prohibitive for some employers. This leads to the question – can I reimburse employees for their own individual health insurance plans? The answer is yes, you can reimburse employees for health insurance premiums they … Read more
Self-insuring is a risk management strategy where a company sets aside funds to cover unexpected losses instead of purchasing insurance policies. Rather than paying premiums to an insurance provider, the company retains the risk and pays for losses out of pocket. Self-insuring can save money over time but requires financial discipline to build up adequate … Read more