FAQs
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 Annually.
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.
Which rating methods are used to determine Medigap premiums?
There are three types of methods used to determine Medigap premiums:
- Community-rated: same for all enrollees
- Issue-age rated: based on your age when you enroll
- Attained-age rated: based on current age (may rise over time).
Who is eligible for a Medigap policy?
You must be enrolled in Original Medicare (Parts A & B); some states also allow Medigap for disability or ESRD (End-Stage Renal Disease) recipients under 65.
Who is eligible for Part D coverage?
Anyone enrolled in Medicare Part A, Part B, or both can sign up for a stand-alone Part D plan (PDP) or get it bundled with a Medicare Advantage plan (MAPD).
Who is eligible to enroll in Marketplace plans?
You can apply if you:
- Live in the U.S.;
- Are a U.S. citizen, U.S. national, or lawfully present;
- Don’t have employer-sponsored, Medicare, Medicaid, or CHIP coverage
Who is short-term medical insurance right for?
Short-term medical insurance is ideal for individuals who are:
- Waiting for employer or Medicare coverage
- Between jobs or missed Marketplace enrollment
- Recent graduates, roommates leaving parent plans, or relocating.
Who is UL insurance best suited for?
UL is ideal for those seeking lifetime protection, cash-value flexibility, and comfort with active policy management. It’s especially popular for business uses, estate planning, or high-net-worth individuals .
Who needs Term Life insurance?
It’s ideal for those with financial dependents, mortgage obligations, or debts. Many financial advisors recommend a policy amounting to 10× your annual income.