FAQs
What’s the difference between bundled vs standalone DVH plans?
Bundled plans include all three coverages at once, often with one deductible and premium structure. Standalone plans let you pick only the types you need—for example, dental only or vision only—offering more customization.
What’s the difference between short‑term and long‑term disability?
Short‑term disability (STD) covers temporary disabilities, usually paying for 3–12 months with elimination periods from 7–30 days. Long‑term disability (LTD) supports longer absences—2, 5, 10 years, or up to retirement—with elimination periods often around 90 days.
What’s the difference between trip cancellation and trip interruption?
Cancellation reimburses prepaid, nonrefundable costs if you can’t depart for a covered reason. Interruption reimburses unused portions (and extra return costs) if you must cut the trip short for a covered reason.
What’s the Medicare coverage gap or “donut hole”?
Historically, there was a gap where beneficiaries paid more. Now, due to the ACA and Inflation Reduction Act, after initial costs, you pay 25% until reaching your out-of-pocket limit.
When and how do I file a claim for hospital/medical indemnity insurance?
Claims should be filed shortly after hospitalization—typically within 90 days to a year. Once submitted, many record decisions within 5 business days.
When can I enroll in Medigap?
The best time is during the 6-month Medigap Open Enrollment Period, starting when you’re both age 65 and enrolled in Part B. You have guaranteed issue rights—no medical underwriting.
When can I enroll in or change a Part D plan?
You can enroll during your Initial Enrollment Period, the Annual Enrollment Period (Oct 15–Dec 7), or a Special Enrollment Period (SEP) if you lose other creditable drug coverage.
When can I enroll to an ACA plan?
- Open Enrollment: runs from November 1 to January 15. Coverage starts January 1 if you enroll by December 15, or February 1 for later enrollments
- Special Enrollment: triggered by life events like moving, job loss, marriage, or birth
When do benefits begin in LTC Insurance?
Benefits usually start after two conditions are met:
- You need help with a certain number of ADLs or have a cognitive impairment.
- You’ve completed the elimination period—typically 30, 60, or 90 days.
When does Critical Illness Insurance coverage start?
Coverage begins on your policy’s effective date, and the diagnosis must occur after that date to qualify for benefits.
When should I buy an LTC insurance policy?
Most experts recommend purchasing LTC insurance in your 40s to mid‑50s, when you’re healthier and premiums are lower. Waiting too long can make premiums unaffordable or coverage unattainable.
When should I buy it?
Buy soon after your first trip payment. Some upgrades (like Cancel For Any Reason) and many pre-existing condition waivers require purchase within a short window (often 10–21 days, varies by plan).
When should I consider taking a Short-term medical insurance plan?
Short-term medical insurance can be helpful when you need fast, low-cost coverage during transitions—such as job changes, moving, or waiting for Medicare or ACA enrollment.
Which drugs are covered under my Part D plan?
Each plan has a formulary (drug list) organized into tiers. Part D plans cover FDA-approved medications in-network; coverage can change yearly.
Which illnesses are commonly covered by Critical Illness Insurance?
Most plans include heart attack, stroke, cancer, and may extend to organ transplant, kidney failure, paralysis, and more depending on policy specifics.