A repudiated claim is one of the possible outcomes when you file a claim with your insurance provider. But what exactly does it mean when an insurer repudiates a claim? This comprehensive guide will explain everything you need to know about repudiated claims. What is Claim Repudiation? Claim repudiation refers to when an insurance company … Read more
UnitedHealthcare and WellMed Medical Management have an affiliation through which WellMed manages certain administrative services for UnitedHealthcare Medicare Advantage plans in select states. However, WellMed operates as a separate company from UnitedHealthcare with its own provider network and clinical services. Below we’ll explain the relationship between WellMed and UnitedHealthcare, how they collaborate on Medicare Advantage … Read more
For most types of life insurance, the policy has a set end date known as the maturity date. When a life insurance policy reaches maturity, the policy ends and a payout is made to the policy owner. But what exactly happens at maturity, and what should you expect? Below we’ll look at how maturity works … Read more
Health maintenance organizations (HMOs) and dental health maintenance organizations (DHMOs) are two common types of managed care plans that provide health and dental coverage, respectively. While they share some similarities in how they operate, there are some key differences between HMO and DHMO plans. What is an HMO? A health maintenance organization, or HMO, is … Read more
When a loved one passes away, dealing with financial matters can be overwhelming. You may receive life insurance proceeds to help cover final expenses and provide financial security. But do you have to pay taxes on this payout? And will you receive a 1099 form for the proceeds? Understanding the tax implications can help you … Read more
Dealing with medical bills can be confusing, especially when seeing out-of-network doctors. You may wonder – can my doctor charge me more than my insurance allows? The short answer is sometimes. There are important protections in place to limit surprise medical bills and balance billing in certain situations. However, out-of-network providers may still charge you … Read more
Tax Deduction at Source (TDS) is a system where the payer deducts tax on specified payments at the time of credit or payment. This acts as a prepaid tax mechanism for the government. TDS applies to various expense categories, including insurance premiums in certain cases. This comprehensive guide will cover: What types of insurance attract … Read more
Original Medicare consists of Part A, which covers hospital services, and Part B, which covers outpatient services like doctor visits and medical equipment. Medicare establishes an approved amount it will pay for each Part B service. However, providers who do not accept Medicare assignment can charge up to 15% over this amount, known as excess … Read more
Purchasing car insurance can be confusing, especially when you start hearing terms like “policyholder” and “named driver.” While they sound similar, these two terms actually refer to very different roles and responsibilities when it comes to your auto insurance policy. In this comprehensive guide, we’ll explain exactly what policyholders and named drivers are, the key … Read more
Medicare Advantage (also known as Medicare Part C) provides an alternative way to get your Medicare Part A and Part B benefits. Medicare Advantage plans are offered by private insurance companies approved by Medicare. If you join a Medicare Advantage plan, you still have Medicare but you get your coverage through the Medicare Advantage plan … Read more