Recent Blog Posts
Why an Internal Appeal is a Really Big Deal
If your insurance company denies your claim for coverage, this denial could mean you don’t get the medicine or procedure you need, or you have to go into your own pocket to pay for costly medical treatment that you can’t afford (medical bills are the number one reason families file for bankruptcy). Some people don’t know there is anything they can do about a denial, and they simply give up, either paying for medical care on credit or going without. Others who read their policy and letters from the insurer carefully do realize there are ways to fight a denial, but even then, they don’t always go about it correctly.
Accidental Death & Dismemberment: A Substitute for Life Insurance?
You might be covered under an Accidental Death & Dismemberment (AD&D) policy as a fringe benefit through your employer or as a benefit of joining a professional association. Now that you are covered by an insurance policy in case of accidental death, you might be wondering if you really need to have a separate life insurance policy as well. After all, life insurance isn’t cheap, especially if you buy a whole life policy to take advantage of the investment it offers over term life. It’s crucial to understand what an AD&D policy covers and what it doesn’t.
What if the Insurance Company Makes a Mistake in Calculating My Deductible?
Your deductible is the yearly amount you have to pay out-of-pocket for medical costs before your insurance benefits really start to kick in. The deductible is a key feature of a health insurance policy, and generally speaking, the lower deductible you choose, the higher your premiums, and vice versa. When you go to the doctor’s office, you typically only pay a very small amount, like ten or fifteen dollars. This amount is known as a co-pay. While co-pays don’t count toward your deductible, they are a great cost savings to you.
Does My Health Insurance Cover Non-Drug Treatment for Pain?
Pain management is a necessary component of treatment after an orthopedic trauma or surgery. Pain is a disability that inhibits rehabilitation and limits one’s ability to return to the activities of daily living. Most health plans cover the treatment of pain resulting from illness or injury, but how they choose to cover it is… Read More »
Billing Problems: Who’s to Blame? Your Healthcare Provider or Your Insurer?
It would be nice if insurance paperwork were simple, if doctor bills were simple and easy to understand, and if questions or concerns could be cleared up with a phone call. It would also be nice if everyone had a robot maid to do the dishes, but we shouldn’t expect any of those things… Read More »
What is the time limit for filing a medical insurance claim?
The time limit to file a claim differs from insurance company to insurance company as well as among different policies sold by the same insurer. Medical providers generally have up to a year from the date of service to forward the claim to the insurance company, but insurers can shorten this time limit to… Read More »
What Is the Statute of Limitations for Filing a Claim Against an Insurance Company?
A statute of limitations is a law that provides a window for filing a civil lawsuit or criminal charges. Once that window has closed, courts will dismiss any lawsuits or prosecutions which are filed late. Different types of cases have different statutes of limitations set out in state or federal law, and determining the… Read More »
What is Annuity Fraud?
Annuity fraud occurs when an unscrupulous insurance agent convinces you to buy an annuity product that you don’t need or is unsuitable for you. Annuities are profitable products for insurance companies to sell, but they are not always the best investment for all individuals and families. Senior citizens are the most vulnerable targets of… Read More »
What Are Annuities, and What Are the Different Types You Can Buy?
Annuities are insurance contracts that offer regular payments in exchange for purchasing the annuity. Annuities can be fixed, variable, or indexed, and they can be immediate or deferred. Annuities are not always suitable investments for a particular investor, and deferred annuities, in particular, have been the subject of numerous class actions based on claims… Read More »
What are non-contestability clauses, and how do they work?
We have written in the past about post-claims underwriting as a bad faith insurance practice when the insurer goes back over a life insurance application years later and rescinds a policy they have already issued to avoid paying an otherwise valid claim (see Post-Claim Underwriting: Can Insurance Companies Cancel Your Policy After You’ve Already… Read More »
