3 Possible Ways Your Health Insurer Might Be Swindling You
The ever growing number of people taking up health insurance plans has resulted in a mushrooming of scam medical insurance providers. These medical insurance providers frequently target individuals who have just retired and the elderly individuals who cannot negotiate better rates with legitimate health insurers. Read on to find out about 3 ways in which your medical insurance company might try to scam you.
1. Not meeting claims
Usually scam health insurance agents try to sign up a huge number of individuals quickly by making them very lucrative offers. These insurance providers are themselves paying small premium amounts and meet small medical claims but, if there is a sizeable claim has to be met or regulators catch up with them, these illegal companies will simply vanish as if they never existed.
Be wary therefore if you you encounter delays in receiving payments or if your insurance provider is offering lame excuses for failing to pay out. If you have one of these illicit plans you may also find that you are liable for medical bills for your employees as well if you have purchased a plan as a small business employer.
2. Selling health plans that are not licensed
If the company from which you have purchased your health plan is not licensed by State Insurance Commissioner then you could be in trouble. In these circumstances your service provider is almost certainly conning you by offering non-licensed health plans.
You should also be aware that that insurance agents are not permitted to sell union or ERISA plans, both of which are regulated by federal law. If therefore your agent tries to sell you an ERISA or union plan you need to report them to your state insurance department.
3. Selling unusual coverage at low rates
If you are offered unusual coverage irrespective of your state of health and at lower rates than you would expect from other insurance companies then it is time for you too hit the panic button. Do not be taken in by a seemingly very attractive offer because you are more than likely to be taken for a ride. The scammers aim to collect large sums of money as quickly as they can and so they will attempt to sell as many policies as they can as quickly as they can before they disappear into the night.
Of course these are only some of the numerous tricks that the fraudsters use but in the manority of cases the existence of one or more of these ploys should cause you to stop and take a close look at what you are getting.
Getting medical insurance from legitimate insurance companies does not have to cost you a fortune so get some free, no obligation low cost health insurance quotes today from one of the county’s most competitive insurance providers.
Tags: health insurance, health insurance policy, health insurance quote, medical insurance, medical insurance plan