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Missouri Insurance FAQs

• Q: What Is The Difference Between A Qualified And A Non-Qualified Plan?
  A: Benefits paid by a qualified long­term care plan generally are not taxable as income. Benefits from a non­qualified long­term care plan may be taxable as … More
• Q: Who Pays For Long-Term Care?
  A: You do. Medicare only pays for short­term stays. Medicaid may pay if you are qualified for government assistance after spending down most of your assets.
• Q: When Should I Apply For A Medicare Supplement Policy?
  A: When you elect coverage under Medicare Part B either due to age or disability, you have a 6­month open enrollment for a Medicare supplement policy, which … More
• Q: I Am Not Satisfied With The Company I Currently Have My Medicare Supplement With. How Often Can I Switch Companies?
  A: Each year on your Medicare supplement annual anniversary date you have the ability to switch companies as long as you apply for the same plan (A­J) that you … More
• Q: What Is The Role Of Mdi Regarding Workers Compensation?
  A: MDI reviews and approves workers compensation policy forms, endorsements and rules. We also monitor the workers compensation market to make sure it is competitive. We … More
• Q: Do I Have To Have A Workers Compensation Policy?
  A: If you are a construction employer and have one or more employees, workers compensation law requires you to have a policy. For all other types of employers, you must … More
• Q: How Do I Buy A Policy?
  A: You can buy workers compensation insurance from a private insurer. Your agent or broker has access to workers compensation companies and can provide you with quotes. … More
• Q: Who Is Covered By My Policy?
  A: All your employees, including corporate officers, are covered by your policy, with just a few exceptions. For example, sole proprietors and partners, farm laborers, … More
• Q: How Is Workers Compensation Priced?
  A: Each insurer files their rates with MDI. The rates are applied to your payroll to determine your manual premium. Other factors, such as experience rating, schedule … More
• Q: What Is An Experience Mod?
  A: An experience modification factor is a means to recognize the differences in loss history between your business and average businesses in your classification code. For … More
• Q: What Is Schedule Rating?
  A: Schedule rating allows your insurer to offer you a discount (or a surcharge) to your premium based on specific factors that the insurer believes will affect your … More

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