Insurance Tips & Frequently Asked Questions

General Insurance Tips & FAQs

Should I elect to keep my COBRA coverage or enroll into an individual health insurance plan?


This can vary greatly. Some employers have very competitively priced plans. Others may not be so competitive. Also one has to keep in mind that deductibles start over if you change from an employer sponsored plan to an individual plan. Always get your Cobra rates so that you can compare and determine your best option.




Are cost sharing and alternative plans a good health insurance option?


These plans generally have limitations and exclusions that can limit coverage in some areas. Also they generally do not cover pre-existing conditions. Make sure you know what these limitations and exclusions are before you enroll into the plan.




What is the difference between Medicare Supplements and Medicare Advantage plans?


The Medicare Supplement plan generally allows you to go to any provider that accepts Medicare and they feature very strong coverage, but have a higher monthly premium than the Medicare Advantage plan. Part D prescription coverage is not included with a supplement. The Medicare Advantage or Part C plans are a good value that feature no or low monthly premiums with cost sharing on services. Part D prescription coverage is available with a Medicare Advantage plan.




Should I keep my employer group health plan/retiree health plan past age 65 or take an individual Medicare plan?


This will vary from employer to employer. If your employer employs over 20 employees, then the health plan is primary coverage and Medicare is secondary. In this case the employee may have the option to postpone enrollment into Medicare Part B and save the Part B premium. It will be important to know and compare the cost of the employer plan with the Medicare Part B, Supplement or Advantage plan costs.





 

Auto Insurance Tips & FAQs

What is an Umbrella Liability Policy?


An umbrella provides excess limits of coverage over your home and auto liability. Anyone who wants to protect their personal assets should buy this type of policy.





 

Home Insurance Tips & FAQs

Should I elect to keep my COBRA coverage or enroll into an individual health insurance plan?


This can vary greatly. Some employers have very competitively priced plans. Others may not be so competitive. Also one has to keep in mind that deductibles start over if you change from an employer sponsored plan to an individual plan. Always get your Cobra rates so that you can compare and determine your best option.




Are cost sharing and alternative plans a good health insurance option?


These plans generally have limitations and exclusions that can limit coverage in some areas. Also they generally do not cover pre-existing conditions. Make sure you know what these limitations and exclusions are before you enroll into the plan.




What is the difference between Medicare Supplements and Medicare Advantage plans?


The Medicare Supplement plan generally allows you to go to any provider that accepts Medicare and they feature very strong coverage, but have a higher monthly premium than the Medicare Advantage plan. Part D prescription coverage is not included with a supplement. The Medicare Advantage or Part C plans are a good value that feature no or low monthly premiums with cost sharing on services. Part D prescription coverage is available with a Medicare Advantage plan.




Should I keep my employer group health plan/retiree health plan past age 65 or take an individual Medicare plan?


This will vary from employer to employer. If your employer employs over 20 employees, then the health plan is primary coverage and Medicare is secondary. In this case the employee may have the option to postpone enrollment into Medicare Part B and save the Part B premium. It will be important to know and compare the cost of the employer plan with the Medicare Part B, Supplement or Advantage plan costs.





 

Health Insurance Tips & FAQs

Should I elect to keep my COBRA coverage or enroll into an individual health insurance plan?


This can vary greatly. Some employers have very competitively priced plans. Others may not be so competitive. Also one has to keep in mind that deductibles start over if you change from an employer sponsored plan to an individual plan. Always get your Cobra rates so that you can compare and determine your best option.




Are cost sharing and alternative plans a good health insurance option?


These plans generally have limitations and exclusions that can limit coverage in some areas. Also they generally do not cover pre-existing conditions. Make sure you know what these limitations and exclusions are before you enroll into the plan.




What is the difference between Medicare Supplements and Medicare Advantage plans?


The Medicare Supplement plan generally allows you to go to any provider that accepts Medicare and they feature very strong coverage, but have a higher monthly premium than the Medicare Advantage plan. Part D prescription coverage is not included with a supplement. The Medicare Advantage or Part C plans are a good value that feature no or low monthly premiums with cost sharing on services. Part D prescription coverage is available with a Medicare Advantage plan.




Should I keep my employer group health plan/retiree health plan past age 65 or take an individual Medicare plan?


This will vary from employer to employer. If your employer employs over 20 employees, then the health plan is primary coverage and Medicare is secondary. In this case the employee may have the option to postpone enrollment into Medicare Part B and save the Part B premium. It will be important to know and compare the cost of the employer plan with the Medicare Part B, Supplement or Advantage plan costs.





 

Life Insurance Tips & FAQs

Should I elect to keep my COBRA coverage or enroll into an individual health insurance plan?


This can vary greatly. Some employers have very competitively priced plans. Others may not be so competitive. Also one has to keep in mind that deductibles start over if you change from an employer sponsored plan to an individual plan. Always get your Cobra rates so that you can compare and determine your best option.




Are cost sharing and alternative plans a good health insurance option?


These plans generally have limitations and exclusions that can limit coverage in some areas. Also they generally do not cover pre-existing conditions. Make sure you know what these limitations and exclusions are before you enroll into the plan.




What is the difference between Medicare Supplements and Medicare Advantage plans?


The Medicare Supplement plan generally allows you to go to any provider that accepts Medicare and they feature very strong coverage, but have a higher monthly premium than the Medicare Advantage plan. Part D prescription coverage is not included with a supplement. The Medicare Advantage or Part C plans are a good value that feature no or low monthly premiums with cost sharing on services. Part D prescription coverage is available with a Medicare Advantage plan.




Should I keep my employer group health plan/retiree health plan past age 65 or take an individual Medicare plan?


This will vary from employer to employer. If your employer employs over 20 employees, then the health plan is primary coverage and Medicare is secondary. In this case the employee may have the option to postpone enrollment into Medicare Part B and save the Part B premium. It will be important to know and compare the cost of the employer plan with the Medicare Part B, Supplement or Advantage plan costs.