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Warning Signs Of Health Insurance Fraud
Con artists are selling phony group health insurance to consumers and small businesses that are looking for lower-priced insurance.These types of insurance fraud are operating in nearly every state. The are stealing millions of dollars from people across the U.S. These swindles can leave you dangerously uncovered when your medical bills need paying.
Watch for these warning signs of a possible insurance fraud:
-The health insurance has few or no underwriting guidelines.
-The insurance coverage costs 25% or more below the normal premium yet promises generous benefits and a large provider network.
-The insurance plan readily accepts people with serious illnesses and other medical conditions that other plans typically reject.
-The insurance plan is not licensed in your state and the agent (falsely) assures you the federal law exempts the plan from state licensing.
-The plan seems like insurance, but the agent avoids calling “insurance,” and instead uses evasive terms such as “benefits.”
-You have never heard of the health insurance company and nobody else has either.
-Your hospital keeps calling you to complain that your health plan is not paying your medical bills.
Ways to Protect Yourself
Before buying your health insurance coverage:
-Contact your state insurance department and ask if the insurance company is licensed in your state.
-Watch for slight differences in names between an unlicensed and licensed health insurance company. Often the phony name closely resembles a legitimate health insurance company.
-Never rely on slick marketing literature or high-pressure sales pitches. Check the facts yourself .
-Back off and ask questions if the deal sounds too good to be true; the agent insists that you buy now; or if the agent sounds evasive when you ask direct questions.