If you work with an insurance broker to purchase a policy, you may wonder – who actually pays their commission? Is it baked into what you pay as a policyholder? Or does it come directly from the insurance company? The short answer is that insurance companies pay commissions to brokers. But let’s break it down … 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

When reviewing options for Medicare Part D prescription drug coverage, SilverScript is one of the largest national providers. They offer three main plans – SilverScript SmartRx, SilverScript Choice, and SilverScript Plus. SilverScript Choice and SilverScript Plus have some important differences in terms of costs, coverage, and benefits. Understanding these key distinctions can help you determine … Read more

The Rockefeller family is one of the wealthiest and most influential dynasties in American history. Much of their fortune can be traced back to John D. Rockefeller, the founder of Standard Oil, who became America’s first billionaire in 1916. A key part of the Rockefeller strategy over multiple generations has been the innovative use of … Read more

Having health insurance helps protect you from large medical expenses. However, most plans involve cost-sharing through deductibles, copays, and coinsurance. One approach some health plans use is a combined medical and drug deductible. What is a Deductible? First, let’s review what a deductible is. A deductible is the amount you pay for healthcare services before … Read more

Many people are faced with the decision of choosing between a PPO (Preferred Provider Organization) and an FSA (Flexible Spending Account) when enrolling in employer-sponsored health insurance plans. The good news is that in most cases, you can have both a PPO health plan and an FSA. However, there are some limitations to be aware … Read more

Fronting is an arrangement between a licensed insurance company and a self-insured organization or captive insurer. It allows the self-insured or captive to issue policies while avoiding certain regulations and requirements. What is Fronting? Fronting refers to when a licensed, admitted insurance company issues policies on behalf of an unlicensed insurer. The fronting company provides … Read more

Covered California is the health insurance marketplace in California established under the Affordable Care Act (ACA). It has played a pivotal role in increasing access to health coverage for Californians over the past decade. As we head into 2023, Covered California will continue serving individuals, families and small businesses, providing a range of health plan … Read more

A Health Savings Account (HSA) is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in a high-deductible health plan (HDHP). HSAs allow you to set aside money on a pre-tax basis to pay for qualified medical expenses. Many people have questions about contributing to an HSA, especially whether … Read more

When applying for insurance, you may notice the process involves disclosing a significant amount of personal information. This raises the question – what exactly happens to this data after it’s collected? Specifically, do insurance companies share it with data mining companies like LexisNexis? The short answer is – not necessarily. While LexisNexis works with many … Read more