The rising variety of shoppers taking on health insurance plans has led to the sprouting of scam health insurance suppliers. These providers typically target new retirees and the aged people and small-business owners, who can’t negotiate better rates with legitimate insurers.
Be very thorough before you invest in any health policy. Read on to get an idea about Three ways in which your health insurance company scamming you.
1. Failure to pay claims
Usually fraud health insurance agents sign up a huge number of people quickly by offering them profitable deals. These insurance providers keep paying small premium amounts and medical claims, but if there is a substantial claim amount or regulators catch them, these illegal companies vanish as if they never existed.
So, just beware if you are getting delayed payments or your service provider is offering fake excuses for the failure to make the payments. If you have signed up for these illegal plans, you may be responsible for the medical bills of your employees as well.
2. Non-licensed health plans
If the company from which you have bought your health care policy is not licensed by State Insurance Commissioner, you can be in trouble. If all the protections of insurance regulation do not apply on your service provider, then the company may be phony. In this case your service provider is scamming you by selling non-licensed health.
Insurance agents are not allowed to sell any reliable ERISA or union plan as federal law governs them. So, if your insurance agent tries to dupe you by promoting an “ERISA” or “union” plan, report them to your state insurance division.
3. Unusual coverage offered at lower rates
If you are offered an unusual coverage regardless of your health condition and that too at lower rate and much more benefits in comparison to different insurers, its time for you too hit the panic button. Do not get fooled by the lucrative offer, else you could be taken for a journey. The ‘scamsters’ goal to collect huge amounts as early as possible so, they try to sell the maximum number of policies at attractive prices.