3 Possible Ways Your Health Insurer May Be Defrauding You
The growing number of consumers taking up medical insurance plans has led to an increase in the number of scam medical insurance providers. These health insurance providers usually target people who have recently retired and the elderly individuals who can’t arrange good rates with legitimate health insurers. Read on to discover 3 ways in which your medical insurance company could try to scam you.
1. Failure to meet claims
Usually fraudrulent medical insurance agents sign up a very large number of people quickly by making them very lucrative offers. These insurers are themselves paying small premium amounts and meet small medical claims but, if there is a substantial claim arises or if the regulators catch them, these illegal companies disappear as if they had never existed.
Be suspicious therefore if you are getting delayed payments or your insurance provider is offering poor excuses for their failure to make the payments. If you have signed up for these unlawful plans you might also be liable for medical bills for your employees as well if you have arranged a plan as a small business employer.
2. Offering medical plans that are not licensed
If your insurance company does not have a license from the State Insurance Commissioner then you can find yourself in difficulty. In these circumstances your insurer is almost certainly conning you by selling non-licensed health plans.
You also need to know that agents are not allowed to sell union or ERISA plans, both of which are regulated by federal law. So, if your insurance agent tries to dupe you by offering you an union or ERISA plan you need to report this to your state insurance department.
3. Unusual cover being offered at lower rates
If you are offered unusual cover regardless of your state of health and at lower rates than you would expect from other insurers then it is time for you too hit the panic button. Do not get duped by an apparently too attractive offer because you are very likely to find yourself being taken for a ride. The scammers aim to collect very large amounts of money as early as possible and so they will try to sell as many plans as they can as quickly as possible before they disappear into the night.
Of course these are simply some of the numerous tricks that the fraudsters get up to but in most cases the presence of one or more of these things should make you stop and look closely 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 affordable health insurance quotes today from one of the county’s most competitive insurance providers.
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