Medicare coordination of benefits with secondary insurers is a complex process that often leaves beneficiaries wondering if their claims will automatically crossover. The short answer is sometimes Medicare will automatically forward claims, but the rules vary depending on your situation. This article provides an in-depth look at how Medicare claim crossover works, when you can … Read more
Payers play a critical role in the US healthcare system by facilitating payments between patients and providers. But who exactly are the major payers in healthcare? This in-depth guide examines the key payers in the system, the services they provide, and how they influence care delivery and costs. What is a Healthcare Payer? A healthcare … Read more
The insurance claims ratio is a critical metric used to gauge the profitability and health of insurance companies. But what exactly does this ratio tell us and why does it matter? This comprehensive guide provides an in-depth look at what the insurance claims ratio is, how it’s calculated, how to analyze it, and tips for … Read more
Lending your car to a friend or family member is often an act of kindness and convenience. However, it can also lead to complications when it comes to your car insurance coverage. Here’s a comprehensive guide on how insurance works when you let someone else drive your car. Your Insurance Is Primary The most important … Read more
Insurance is divided into different classes based on the type of risk being covered. The main classes of insurance include property, casualty, life, health, and business insurance. Understanding the different insurance classes can help you determine the right type of policy for your needs. Property Insurance Property insurance protects physical assets like homes, cars, boats, … Read more
Medicare Supplement insurance, also called Medigap, is private insurance designed to help fill coverage gaps in Original Medicare. These policies pay for certain out-of-pocket costs not covered by Medicare Parts A and B. Medigap helps supplement Original Medicare benefits, which is why it’s referred to as Medicare Supplement insurance. But what exactly are the key … Read more
Builder’s risk insurance protects construction projects while they are underway. It covers damage from perils like fire, theft, storms, and more. While the property owner or general contractor typically purchases the policy, others involved in the project can request to be added as additional insureds. Being named as an additional insured on the builder’s risk … Read more
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
Co insurance is a common clause in many property insurance policies that requires the policyholder to carry a certain amount of insurance coverage relative to the total value of their property. If the insured does not maintain adequate limits, they may be penalized through co insurance in the event of a claim. This article explores … Read more
Homeowners insurance provides protection for your home against damages caused by covered perils like fire, theft, storms, and more. It covers repairs and reconstruction costs if your home is damaged. But what if something happens to your home when you don’t have an active insurance policy? Can you get homeowners insurance to cover pre-existing damages? … Read more