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3 ways your health insurance company is fooling you

The increase in consumers using health insurance plans has led to a surge in fraudulent health insurance providers. These providers are often aimed at new retirees, seniors and small business owners who are unable to negotiate better rates with legitimate insurance companies.

 

The increase in consumers using health insurance plans has led to a surge in fraudulent health insurance providers. These providers are often aimed at new retirees, seniors and small business owners who are unable to negotiate better rates with legitimate insurance companies. Be very careful before investing in health policy. Read on to get an idea of ​​three ways your health insurance company can scam you.

1. Failure to pay the bill

Fraudulent health insurance agents usually sign up to a huge number of people quickly by offering them a favorable deal. These insurers continue to pay small premiums and medical costs, but when large amounts of insurance are paid or regulators catch them, these illegal companies disappear as if they didn’t exist. increase.

Therefore, be careful if your payment is delayed or if your service provider provides a fake excuse for failing to pay. If you sign up for these illegal plans, you may also incur medical costs for your employees.

2. Unlicensed health insurance

If the company you purchased your health care policy from is not authorized by the State Insurance Commission, you may have a problem. A company may be fake if all protections of insurance regulations do not apply to the service provider. In this case, your service provider is scamming you by selling unlicensed health insurance.

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Insurance agents are subject to federal law and are not allowed to sell legitimate ERISA or union plans. Therefore, if an insurance agent sells an “ERISA” or “Union” plan and tries to trick you, report it to the state insurance department.

3. Extraordinary coverage offered at a low price

If you are offered extraordinary compensation regardless of your health, and it is also offered a lower rate and much more profit compared to other insurance companies, then the time for you also panic button Press. Don’t be fooled by lucrative offers. Otherwise, you may be taken to the ride. “Scammers” aim to collect large amounts of insurance as soon as possible, so they are trying to sell the largest number of insurance policies at attractive prices.