The numbers 100/300/50 are common liability coverage limits you’ll see on auto insurance policies. But what do they actually mean? Here’s a detailed breakdown of what each part of a 100/300/50 policy covers: Auto Liability Insurance Overview Liability insurance is a required component of auto insurance in almost every state. It covers injuries or damage … Read more
Paying your monthly health insurance premiums on time is essential to keep your coverage active. But what if you miss a payment? Most health plans provide a grace period where you can catch up before your policy is terminated. However, failing to pay before the grace period expires can lead to loss of coverage. Understanding … Read more
Buying a home is likely one of the biggest investments you’ll make in your lifetime. Protecting that investment with homeowners insurance is crucial. While the standard homeowners policy offers robust protections for your dwelling, belongings, loss of use and personal liability, there are additional optional coverages available for purchase. One such additional coverage is Coverage … Read more
Copays can be confusing, especially if you’re new to dealing with health insurance and medical bills. You may be wondering – do I really have to pay this copay, and do I have to pay it upfront before my appointment? The short answer is: it depends. There are a few different factors that determine whether … Read more
Traveling overseas can be an exciting adventure. But if you have Medicare, you may be wondering if your coverage applies abroad. Here’s what you need to know about using your Medicare benefits internationally. Medicare Coverage Outside the U.S. is Limited In most situations, Medicare won’t pay for health care or supplies you get outside the … 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 cost of living adjustment (COLA) for Social Security benefits is one of the most anticipated economic announcements each year. The COLA is based on the inflation rate and aims to help Social Security beneficiaries keep up with rising prices. For 2023, the COLA was a historically high 8.7% – the fourth-largest increase since automatic … Read more
As you enter retirement, maintaining your assets and nest egg is a top priority. With the potential for needing long-term care services as you age, many wonder if long-term care insurance can help protect assets if care is needed. The short answer is yes – long-term care insurance is specifically designed to cover services that … Read more
A secondary insured is an individual or entity that is covered under another party’s insurance policy, in addition to the primary policyholder. Secondary insureds receive certain protections and ability to file claims under the policy, but their coverage is more limited compared to the named insured. Understanding secondary insured status, how to be added as … Read more
Owning a home free and clear without a mortgage is a major financial accomplishment. But just because you don’t have a monthly mortgage payment doesn’t mean you can skip homeowners insurance. Here’s what to know about insuring a home when you have no mortgage. Overview of Homeowners Insurance First, a quick refresher on what homeowners … Read more