Insurance Education
What is Medicare?
Medicare is health insurance for people 65 or older who meet citizenship or residency requirements. You may be eligible to get Medicare earlier if you have a disability, End-Stage Renal Disease (ESRD), or ALS (also called Lou Gehrig’s disease). Some people get Medicare automatically, others have to actively sign up -- it depends if you start getting retirement or disability benefits from Social Security before you turn 65.
Medicare Supplement (Medigap)
Medicare Supplement Insurance, also known as Medigap, helps fill the 'gaps' in Original Medicare coverage by paying for things like copayments, coinsurance, and deductibles. It offers financial peace of mind by covering out-of-pocket costs that Parts A and B don't fulfill.
Affordable Care Act or ACA Health Insurance
In 2010, the Affordable Care Act, or ACA, was passed into law. Its primary goal is to ensure that all Americans are able to access, obtain, and maintain affordable health insurance coverage. To meet this goal, ACA effected many changes; among the most notable are these:
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It put into place a number of private insurance consumer protection measures to make sure most individuals have access to quality health insurance, regardless of their health status.
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It created public health insurance exchanges, or marketplaces, to give consumers a way to access and purchase health coverage that they may not otherwise have been able to obtain or afford.
Coverage offered through an exchange plan is comprehensive and must meet all of the health insurance market reforms that have been implemented by the ACA. These reforms include the following:
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guarantee issue of coverage
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elimination of preexisting condition exclusions
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prohibition on lifetime and annual limits for essential health benefits
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required coverage without cost-sharing for certain preventive services
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standardized plan benefit summaries to be used by all insurers
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the ability for children up to age 26 to remain on a parent’s policy
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prohibition on rescission of coverage, except in cases of fraud
Property & Casualty Insurance Basics
Understanding the distinction between liability and asset protection is fundamental to securing your financial future. Liability insurance safeguards your business from claims arising from accidents or injuries, ensuring you can maintain operations without the burden of legal expenses. Conversely, asset protection covers the tangible and intangible assets you own, providing a safety net against unforeseen losses and preserving your wealth for your loved ones.
