How does HDHP affect taxes?

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

Can I Use Someone Else’s Address for Car Insurance?

You may be wondering if you can legally use another person’s address instead of your own when getting car insurance. The answer is no – using someone else’s address for your auto insurance policy is considered fraud. This article explains why people try using another address, the penalties if caught, and how insurers detect fraudulent … Read more

What is the Difference Between Primary Driver and Assigned Driver?

When getting an auto insurance policy, you’ll need to provide details on who the regular drivers are for each insured vehicle. Insurance companies use terms like “primary driver” and “assigned driver” to classify these regular users. While these terms sound similar, they have some distinct differences that affect your policy rates and coverage. Defining Primary … Read more

Independent Insurance Agent vs. Insurance Broker: Key Differences Explained

Understanding how independent agents and brokers differ allows you to choose the right professional for your insurance needs. Here’s an overview of their distinct roles and services. An independent insurance agent and an insurance broker serve similar functions – helping consumers find and purchase policies. But they operate under different business models. Learning the key … Read more

Can I Use 2 HMO at the Same Time in the Philippines?

Having health insurance is crucial in the Philippines to protect yourself and your family from the high costs of medical care. Many Filipinos rely on Health Maintenance Organizations (HMOs) as their primary form of health coverage. But is it possible to be covered by two HMOs at the same time for extra protection? The short … Read more

When Can You Take AHIP 2024 Training?

The America’s Health Insurance Plans (AHIP) Medicare and Fraud, Waste and Abuse (FWA) training is required annually for insurance agents who want to sell Medicare Advantage and Part D prescription drug plans. For 2024 plan year enrollment, the new AHIP certification course opened on June 21, 2023. If you need to complete AHIP training to … Read more

What is a Crossover Only Application?

Having both Medicare and Medicaid coverage can get confusing when it comes to filing insurance claims and getting paid. This is where a crossover only application comes in. But what exactly does this term mean? Below we’ll explain what a crossover only provider application is, who needs it, and how the claims crossover process works … Read more

What is the Difference Between the Medicare-Approved Amount and What a Provider Charges?

When you receive medical care covered under Medicare Part B, there is often a difference between the amount Medicare approves for payment and the amount your provider charges for their services. This discrepancy between the Medicare-approved amount and a provider’s charges can impact your out-of-pocket costs. Let’s take a closer look at how Medicare payment … Read more

Can I Self-Insure My Home?

Self-insuring your home means foregoing traditional home insurance and instead using your own money to cover any losses or damages. While self-insuring may seem like a way to save on insurance premiums, it carries significant financial risks that make it impractical for most homeowners. What is Self-Insuring a Home? Self-insuring your home means you have … Read more

Do Insurance Companies Talk to Each Other About Claims? What You Need to Know

If you’ve ever filed an insurance claim, you may have wondered – do insurance companies share information about claims with each other? Can details about your claim history impact your rates and coverage with other insurers down the road? The short answer is yes – insurance companies do communicate information about customer claims amongst themselves, … Read more