The notebook
Twelve explainers on the coverages Americans actually buy. Start with the topic, then read the policy you already have.
One is a federal fee-for-service program. The other is a private plan that packages benefits under contract with Medicare. The difference shows up in networks, drugs, and what you pay out of pocket.
Read the noteThe marketplace window is short, employer windows are shorter, and last year’s plan is not automatically the right plan this year.
Read the noteThe three numbers on a liability quote are not a score. They are the ceiling the insurer will pay if you injure someone or damage their property.
Read the noteThe declaration page is the one-sheet summary of limits and deductibles. The exclusions that surprise people live in the policy form behind it.
Read the noteTerm insurance rents a death benefit for a set number of years. Whole life keeps a death benefit in force and builds cash value, at a much higher premium.
Read the noteA standard homeowners form pays for some sudden water from inside the house. Rising water from outside is a different policy.
Read the noteA higher deductible usually lowers the price you pay every month. It also raises the amount you write a check for when something actually happens.
Read the noteThe landlord’s policy covers the building. It does not replace your furniture, your laptop, or your liability if a guest is hurt.
Read the noteAn umbrella policy adds liability limits above the auto and homeowners policies. It is not a second copy of those policies.
Read the notePart D is drug coverage. It can stand alone with Original Medicare, or it can be folded into a Medicare Advantage plan.
Read the noteA low monthly number is not a better policy if the quote deleted the coverages you would actually use.
Read the noteLosing a job can open two doors at once: keep the old employer plan for a while, or buy a marketplace plan. They are priced differently.
Read the note