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The rising number of people taking up medical insurance plans has resulted in a rise in the number of scam medical insurance providers. These providers usually target people who have recently retired and seniors who can't arrange good rates with legitimate health insurers. Read on to discover 3 ways in which your health insurer may try to scam you.
1. Failure to settle claims
Usually fraudrulent health insurance agents try to sign up a huge number of individuals quickly by making them very lucrative offers. These insurers themselves pay small premium amounts and settle small medical claims but, if there is a substantial claim has to be met or if the regulators catch them, these companies will simply disappear as if they had never existed.
Be wary therefore if you are getting delayed payments or if your service provider is offering lame excuses for their failure 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 taken a policy as an employer for your business.
2. Selling health plans that are not licensed
If the company from which you have purchased your medical policy does not hold a license from the State Insurance Commissioner then you could find yourself in difficulty. In these circumstances your service provider is almost certainly conning you by offering medical plans that are also not licensed.
You should also note that agents are not allowed to provide union or ERISA plans, both of which are governed by federal law. If therefore your agent tries to sell you an union or ERISA plan you ought to report this to your state insurance department.
3. Offering unusual coverage at low rates
If you are offered unusual cover regardless of your state of health and at a lower rate than you would expect from other insurers then it is time for you too hit the panic button. Do not get taken in by an apparently very attractive offer as you are more than likely to find yourself being taken for a ride. The scammer's aim is to collect very large sums 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.
Naturally these are simply a few of the many tricks that the scammers use but in almost all cases the presence of one or more of these things ought to make you stop and look closely at exactly what you are getting.
1. Failure to settle claims
Usually fraudrulent health insurance agents try to sign up a huge number of individuals quickly by making them very lucrative offers. These insurers themselves pay small premium amounts and settle small medical claims but, if there is a substantial claim has to be met or if the regulators catch them, these companies will simply disappear as if they had never existed.
Be wary therefore if you are getting delayed payments or if your service provider is offering lame excuses for their failure 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 taken a policy as an employer for your business.
2. Selling health plans that are not licensed
If the company from which you have purchased your medical policy does not hold a license from the State Insurance Commissioner then you could find yourself in difficulty. In these circumstances your service provider is almost certainly conning you by offering medical plans that are also not licensed.
You should also note that agents are not allowed to provide union or ERISA plans, both of which are governed by federal law. If therefore your agent tries to sell you an union or ERISA plan you ought to report this to your state insurance department.
3. Offering unusual coverage at low rates
If you are offered unusual cover regardless of your state of health and at a lower rate than you would expect from other insurers then it is time for you too hit the panic button. Do not get taken in by an apparently very attractive offer as you are more than likely to find yourself being taken for a ride. The scammer's aim is to collect very large sums 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.
Naturally these are simply a few of the many tricks that the scammers use but in almost all cases the presence of one or more of these things ought to make you stop and look closely at exactly what you are getting.
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Buying medical insurance from legitimate insurance companies does not have to cost you an arm and a leg so get some free, no obligation affordable health insurance quotes today from one of this county's leading insurance providers.
