3 Ways Your Health Insurance Company is Tricking You
Scam health insurance companies have proliferated in response to the increasing number of individuals purchasing coverage. These companies prey on the elderly, those who have recently retired, and business owners who are too tiny to negotiate better rates with real insurers. You should exercise extreme caution when purchasing a health insurance plan. Here are three ways that health insurance companies may try to take advantage of you.
1. Nonpayment of claims
In order to quickly make a lot of money, fraudulent health insurance agents sign up a lot of customers. These insurance businesses continue to pay out on minor claims and premiums, but when regulators become involved or the claim amount is large, they disappear.
If your service provider is delaying payments or giving you bogus reasons why they can't, you should proceed with caution. You may be responsible for your employees' medical costs if you have enrolled in one of these unauthorized programs.
2. Non-accredited medical insurance
Problems may arise if the health insurance provider you choose is not approved by your state's insurance commissioner. If your service provider is not covered by all applicable insurance laws, you should be wary about working with them. In this scenario, the service provider is engaging in fraudulent activity by offering unapproved medical insurance.
Federal law prohibits insurance agents from marketing or selling ERISA or union plans. You should contact the state insurance department if your insurance agent tries to sell you a fake "ERISA" or "union" plan.
3. Discounts for unusual types of coverage
You should also feel the need to fear if you are offered an unexpected coverage regardless of your health condition, especially if the cost is lower and the benefits are greater than those offered by other insurers. Do not fall for the tempting offer; else, you may be taken advantage of. The'scamsters' are motivated by a desire to amass large sums of money rapidly and hence provide discounts in order to sell as many policies as possible.
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