Please read our blog about a wide variety of insurance topics. Please feel free to ask us any questions.
Is Medigap Insurance Tax Deductible?
Posted: February 6, 2022
Is Medigap Insurance Tax Deductible?If you have Original Medicare along with a Medigap insurance plan, your Medigap premiums are tax-deductible. They are treated as a medical expense on Form 1040, Schedule A, Itemized Deductions and subject to the same guidelines as any other medical expense in this category. As with other medical expenses, to be able to deduct your Medigap premiums, you must be itemizing deductions. Only the portion...
What Is Cargo Insurance and Why Is It Important?
Posted: February 4, 2022
What Is Cargo Insurance and Why Is It Important?Transporting goods carries risks. Any number of things can go wrong with goods in transit. That is what makes cargo insurance so important. It can help protect the value of your goods against losses in transit by sea, air, or rail. Cargo insurance provides protection against financial loss for cargo that is lost or damaged due to a covered event. These typically include natural disasters,...
Which Disasters Are Covered by Home Insurance?
Posted: February 1, 2022
Which Disasters Are Covered by Home Insurance?Natural disasters can wreak havoc on a home – or destroy it entirely. Homeowner’s insurance provides financial protection against covered damages to your home and personal belongings, and liability for injuries to others in certain circumstances. No home insurance policy covers all natural disasters. It is important to understand the type of policy you have and which disasters it covers. What Does Standard Homeowners Insurance...
Can I Change My Health Insurance If I Move?
Posted: January 25, 2022
Can I Change My Health Insurance If I Move?If you move across town, you may not be able to change your health insurance. If you move out of state, on the other hand, you may be required to change it. Your health insurance may not cross state lines with you. Some plans may terminate when you move to a different state or may not provide coverage in the new state. If you purchased...
How Do Medicare Advantage Plans Work?
Posted: January 21, 2022
How Do Medicare Advantage Plans Work?Medicare has four different parts -- Part A (hospitalization), Part B (healthcare services), Part C (Medicare Advantage Plans), and Part D (prescription drug coverage). Medicare Advantage Plans are an alternative to Original Medicare for Part A and Part B coverage. These plans are offered by private companies approved by Medicare and administered according to set Medicare rules. Because they work like private health insurance, Part...
