3 Possible Ways Your Health Insurer May Be Conning You
The increasing number of consumers signing up for medical insurance plans has resulted in an increase in the number of scam medical insurance providers. These health insurance providers usually target new retirees and senior citizens who are unable to negotiate better rates with legitimate insurers. Read on to learn about 3 ways in which your medical insurance company could try to scam you.
1. Not paying out on claims
Usually sham medical insurance agents will try to sign up a huge number of individuals quickly by making them very lucrative offers. These insurance providers themselves pay small premium amounts and settle small medical claims however, if there is a sizeable claim has to be met or regulators catch up with them, these companies vanish as if they had never existed.
Be suspicious therefore if you you encounter delays in receiving payments or your insurer is offering poor excuses for their failure to make the payments. If you have one of these unlawful plans you could also find that you are liable for medical bills for your employees as well if you have arranged a plan as an employer for your business.
2. Providing medical plans which are not licensed
If the insurer does not have a license from the State Insurance Commissioner then you could find yourself in difficulty. In these circumstances your insurer is almost certainly scamming you by offering medical plans which are also not licensed.
You should also note that insurance agents are not allowed to sell ERISA or union plans, both of which are regulated by federal law. If therefore your agent tries to sell you an union or ERISA plan you should report this to your state insurance department.
3. Unusual coverage being offered at lower rates
If you are offered unusual coverage regardless of your state of health and at lower rates than you would expect from other insurers then you should be very cautious. Do not be duped by an apparently very attractive offer as you are very likely to find yourself being taken for a ride. The scammers aim to collect huge amounts of money as quickly as they can and so they try to sell as many plans as they can as quickly as possible before disappearing.
Naturally these are just some examples of the numerous tricks that the scammers get up to but in most cases the presence of one or more of these things should cause you to stop and look closely at exactly what you are buying.
Getting medical insurance from legitimate insurers 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 the county’s most competitive insurance providers.
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