How does the grace period work on my Flexible Spending Account (FSA)?

July 7, 2024 No Comments

A: Some employers offer the grace period option for their employee’s flexible spending account, or FSA. The grace period is applicable to a health FSA and a dependent care FSA. It begins the day following the end of the plan year and lasts for two and a

Does homeowners insurance cover roof leaks?

July 7, 2024 No Comments

A: Roof leaks are covered under all perils homeowners insurance policies if the leak was caused by an act of nature. Acts of Nature Acts of nature include things such as storms, hail, ice buildup and fallen trees. These events happen suddenly and by accident.

Does homeowners insurance cover roof replacement?

July 7, 2024 No Comments

A: A typical all-perils homeowners insurance policy covers the replacement of a roof, regardless of age, only if it is the result of an act of nature. Roofs that have exceeded their intended life span are not eligible for replacement because they fall under the

Does homeowners insurance cover tree damage?

July 7, 2024 No Comments

A: An all-perils homeowners insurance policy covers damage from trees in the event that it happens suddenly and by accident. Claims for damage occurring from trees over a long period of time is likely to be denied. Overgrown Trees When purchasing a new insurance policy,

Does money in a Flexible Spending Account (FSA) roll over?

July 7, 2024 No Comments

A: As of 2015, according to IRS regulations, the maximum amount of funds in a Flexible Spending Account (FSA) that can be carried over from one calendar year to the next is $500. Any amount of money in excess of the $500 carryover allowance left

Does renters insurance cover dog bites?

July 7, 2024 No Comments

A: A renters insurance policy typically provides liability coverage, up to policy limits, for dog bites unless the coverage is specifically excluded from the policy. Coverage May Vary Coverage for dog bites varies from state to state and from one insurance company to another. Speak

Does renters insurance cover jewelry?

July 7, 2024 No Comments

A: Renters insurance provides personal property coverage that covers your personal property – including jewelry – in case of theft, loss or destruction caused by a covered peril, such as a fire or a storm. According to the National Association of Insurance Commissioners (NAIC), the

Does your car insurance company report accidents to the DMV?

July 7, 2024 No Comments

A: Your car insurance company does not generally report accidents to the Department of Motor Vehicles (DMV). However, depending on your state of residence, either you or the police are probably required to file a report with the DMV, regardless of whether your insurance company

Does a Flexible Spending Account (FSA) cover acupuncture?

July 7, 2024 No Comments

A: A Flexible Spending Account (FSA) covers acupuncture. The Internal Revenue Service (IRS) has defined acupuncture as a qualifying medical expense. Qualifying Medical Expenses For anything to be covered under your FSA, it must be a qualified medical expense. Most qualifying medical expenses require a

How can an investor evaluate the leverage of an insurance company?

July 7, 2024 No Comments

A: For investors conducting fundamental analyses of insurance companies, leverage can have multiple definitions. Insurance leverage is a term that refers to the ratio of deferred insurance liabilities to shareholder equity. A more universal definition of financial leverage is captured by the debt-to-equity ratio. Both

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