FAQs
Can I move and retain my Medigap policy?
In most cases, yes. Your Medigap plan stays valid if you move to another state—though your premium amount may change.
Can I name more than one beneficiary in Final Expense insurance policy?
Yes. You can name multiple beneficiaries, assign specific percentages, and designate contingent beneficiaries in case your primary passes before you. This helps ensure funds go where you intend.
Can I purchase Cancer Insurance after being diagnosed?
No. Cancer insurance generally requires application before any diagnosis—you must be cancer-free at policy issue. Past history may result in denial or exclusion.
Can I receive both Social Security Disability and LTD?
LTD benefits may be offset by Social Security Disability Income (SSDI), depending on the policy. Employer group plans often coordinate with SSDI; individual plans might not.
Can I renew my plan when my Short-term medical insurance plan ends?
It varies by state. Federal rules now cap short-term plans at 36 months total, but many insurers don’t offer renewals. You may need to reapply upon reaching the term limit.
Can I renew Term Life insurance policy after the term ends?
Many policies allow guaranteed renewal, often annually, but rates increase due to age and health changes.
Can I share long-term care benefits with my spouse?
Yes, some carriers offer shared-care rider options, allowing married couples to combine or share benefit pools. If one spouse exhausts their benefits, they may tap into the other’s unused balance.
Can I switch my MA plan mid-year?
Yes—in Medicare Advantage Open Enrollment (Jan 1–Mar 31), you can switch MA plans or drop to Original Medicare and add Part D.
Can I switch Part D plans mid-year?
Yes—if you qualify for an SEP (e.g., loss of coverage or gaining Extra Help), you can change plans outside the annual enrollment period.
Can I use HSA or FSA to pay for DVH costs?
Yes. Dental, vision, and hearing expenses—like exams, glasses, contact lenses, and hearing aids—are generally eligible for reimbursement from Health Savings Accounts (HSAs) or Flexible Spending Accounts (FSAs).
Can I use preferred pharmacies in my Part D plan?
Many Part D plans feature preferred pharmacy networks offering lower copays—great for cost savings if you use covered pharmacies consistently.
Can LTC Insurance benefits be paid even if I recover?
For traditional policies, you only get payouts if you use care (use-it-or-lose-it). Many hybrid policies include a death benefit or return-of-premium feature for unused coverage.
Can Part D work with other drug coverage I have?
Yes, but ensure other drug coverage is creditable. If not, you may owe a penalty later. Employer or VA coverage can count if it’s deemed creditable.
Can people with Medicare and Medicaid use MA?
Yes—Dual Eligible Special Needs Plans (D-SNPs) are designed for those with both Medicare and Medicaid and offer integrated benefits.
Can UL support retirement planning?
Yes. UL cash value can be accessed tax-free via loans or withdrawals for retirement needs—housing, income supplementation, or education.