Insurance policies provide financial protection and peace of mind in the event of unexpected losses. There are many different types of insurance available to cover a wide range of needs. Here is an overview of the most common forms of insurance that individuals and families may want to consider purchasing. Auto Insurance Auto insurance is … Read more
Medicaid and Health Savings Accounts (HSAs) are two different healthcare programs that serve different purposes. However, their eligibility requirements overlap in a way that affects whether someone on Medicaid can contribute to an HSA. What is Medicaid? Medicaid is a public healthcare program that provides health coverage to low-income individuals and families. It is jointly … Read more
Claims adjustment is the process of investigating, evaluating, and settling insurance claims. The purpose is to determine if the insurance company is liable for a loss under the terms of its policy and if so, what amount should be paid to the policyholder. Claims adjusters play a vital role in this process. Who Are Claims … Read more
UnitedHealthcare is one of the largest health insurance providers in the United States and also offers coverage options for residents of Puerto Rico. Here is an overview of UnitedHealthcare’s presence in Puerto Rico and details on plan options, provider networks, and how to get the most out of your UnitedHealthcare health plan if you live … Read more
When you visit a doctor or hospital that is in-network with your health insurance plan, you typically pay a set copayment or coinsurance amount for covered services. But sometimes patients get hit with unexpected higher bills from out-of-network providers, even at in-network facilities. This practice is known as “balance billing” and is illegal in many … Read more
Insurance policies contain certain conditions that policyholders must comply with in order for coverage to apply. Failure to meet these conditions can result in a denial of claim benefits. Understanding what conditions exist in your policy and what they require is key to getting full value from your insurance. What Are Policy Conditions? Policy conditions … Read more
Insurance policies and insurance contracts are related but distinct concepts. While the terms are sometimes used interchangeably, understanding the key differences is important for both policyholders and insurers when it comes to legal rights and obligations. Insurance Policy An insurance policy is a written document that outlines the terms, conditions, and exclusions of an insurance … Read more
Original Medicare typically covers 80% of the Medicare-approved amount for covered medical services, after you meet the Part B deductible. As a Medicare beneficiary, you are responsible for paying the remaining 20% coinsurance. However, with a Medicare Advantage plan, your out-of-pocket costs are structured differently. The 20% Coinsurance in Original Medicare Under Original Medicare Part … Read more
Getting into a car accident can be stressful enough. But when the other driver’s insurance company refuses to pay for your damages and expenses, it can quickly turn into a nightmare. Unfortunately, this scenario is all too common. Insurance companies are for-profit businesses, and some will try to avoid or minimize payouts when possible. So … Read more
Having car insurance can provide peace of mind in the event of an accident or damage to your vehicle. However, most policies come with an excess – the amount you must pay towards any claim before your insurance covers the remaining cost. This excess can sometimes be more than the actual repair bill. So what … Read more