3 Ways Your Medical Insurance Company Could Be Swindling You
The ever increasing number of people signing up for health insurance plans has resulted in an increase in the number of scam health insurance providers. These scammers often target individuals who have just retired and seniors who can’t negotiate good rates with legitimate health insurers. Read on to learn about 3 ways in which your health insurer might try to scam you.
1. Failure to pay claims
Usually fraudrulent health insurance agents sign up a very large number of individuals quickly by making them very lucrative offers. These insurance providers are themselves paying small premium amounts and settle small medical claims however, if there is a substantial claim has to be met or regulators catch up with them, these companies vanish as if they had never existed.
Be wary therefore if you are getting delayed payments or your insurer is offering poor excuses for failing to make the payments. If you have signed up for these unlawful plans you may also find that you are liable for medical bills for your employees as well if you have taken out a policy as an employer for your business.
2. Offering health plans which are not licensed
If the company from which you have purchased your medical plan has not been licensed by State Insurance Commissioner then you can be in trouble. In this case your service provider is almost certainly conning you by offering non-licensed medical plans.
You should also note that insurance agents are not permitted to offer ERISA or union plans, both of which are governed by federal law. So, if your insurance agent tries to dupe you by offering you an union or ERISA plan you ought to report this to your state insurance department.
3. Selling unusual coverage at low rates
If you are offered unusual cover regardless of your health condition and at lower rates than you would expect from other insurers then you need to be very careful. Do not be fooled by a seemingly very attractive offer because you are more than likely to be taken for a ride. The scammer’s aim is to collect very large amounts of money as early as possible and so they try to sell as many plans as they can as fast as possible before they disappear.
Of course these are simply some examples of the many tricks that the fraudsters use but in almost all cases the presence of one or more of these ploys should make you stop and take a close look at exactly what you are buying.
Arranging medical insurance from legitimate insurance companies does not have to cost you an arm and a leg so get some free, no obligation low cost health insurance quotes today from one of this county’s top insurance providers.
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