Having health insurance is supposed to make healthcare more affordable. But it’s not uncommon for hospitals to charge insured patients more for the same procedures than uninsured patients pay in cash. Why does this backwards-seeming practice happen? The Role of Chargemasters Part of the reason lies in hospital chargemasters. These are comprehensive lists of prices … Read more

Seeing terms like “30 after deductible” on your health plan documents can be confusing. What do these numbers actually mean and how do they impact what you pay for healthcare? The “30 after deductible” refers to your coinsurance – the percentage you pay for care after meeting your deductible. Let’s break down what this means … Read more

Medicare offers vital health coverage for Americans aged 65 and over. But higher-income seniors pay more for certain parts of Medicare based on their earnings. So what are the income limits before you’ll owe surcharges? Medicare uses a tiered system of income brackets to determine who pays standard premiums versus extra costs. The 2023 income … Read more

Allstate is known for its captive agency force of exclusive agents who only sell Allstate insurance products. However, Allstate also maintains an independent agency program that appoints independent agents to represent the company. So the short answer is yes, Allstate does appoint independent agents, but with some caveats. A Brief History of Allstate’s Independent Agency … Read more

An insurance contract involves a legally binding agreement between an insurance company and a policyholder. For the agreement to be valid and enforceable, it must contain certain essential elements as required by insurance law and regulations. This article provides an overview of the key elements that comprise an insurance contract. Basic Contract Elements Like all … Read more

When applying for term life insurance, you may receive a counter offer from the insurance company instead of the initial quote you were expecting. A counter offer adjusts the terms, conditions, or price of the policy from the original quote. Understanding what a counter offer is and how to respond can help you make sure … Read more

Salvage and subrogation are two important concepts in the property and casualty insurance industry. They give insurers ways to recover part of the costs of claims they have paid out to policyholders. Understanding how salvage and subrogation work can provide insights into insurance company finances and operations. What is Salvage? In insurance, salvage refers to … Read more

Medicare undergoes changes each year to adjust costs, benefits, and coverage. However, 2023 marks one of the most significant years for adjustments to the Medicare program. This article will explain the most notable Medicare rule changes going into effect in 2023. Part A Cost Changes Medicare Part A covers hospital insurance services, including inpatient hospital … Read more

Medicaid and the health insurance marketplace, sometimes called “Obamacare,” are two major ways people can obtain health coverage in the United States. But they have some key differences in terms of how they work, who is eligible, and what benefits they provide. Understanding the distinctions between Medicaid and marketplace plans can help you determine which … Read more

Having health insurance protects you and your family by providing coverage for medical expenses. But what if you are in a committed relationship without being legally married? Does your partner still qualify for insurance benefits? The answer depends on your state’s laws and your employer’s policies on domestic partner coverage. Here’s what you need to … Read more