Health Insurance Scams: Reviewing How Scammers Target the Innocents | Health 2.0 Conference

Health Insurance Scams:

Reviewing How Scammers Target the Innocents

What is a Health Insurance Scam? ●

Getting the right health plan can feel like navigating a maze, with bewildering coverage and cost choices around every turn. Shady operators count on that confusion to sell insurance products and health services that deliver far fewer benefits than promised — or none at all.

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Health insurance fraud can be explained as a situation where an insured or medical service provider furnishes fraud, false or misleading information to the insurer with the intention to attain unfair benefits from a policy for the policy holder or service providing source.

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The scammers tell you they need personal information to verify an application or that they can help you choose the right plan — for a fee you can not even imagine! Treat such solicitations and any offers of deep-discount coverage with skepticism.

Never Avoid These Warning Signs ●

High-pressure sales pitches that push low-cost plans or offer special rates if you sign up right away.

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Insurance companies are licensed by the states, not by any federal body. Stay steer clear of the claims that a plan is licensed under ERISA, the federal Employee Retirement Income Security Act.

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A plan requires you to join an “association” or “union” to get covered. These may be fake organizations designed to create the illusion that you are buying group health insurance.

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Someone contacting you about health coverage claims to be from the government. No government representative will ever try to sell you insurance.

Want to Avoid Health Insurance Scam? ← Check Out Some Dos & Don’ts →

Dos ●

Compare rates. Premiums for comprehensive coverage that are far lower than what you see elsewhere are probably too good to be true.

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Do confirm with your state insurance commissioner that a plan provider is licensed.

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Do learn the difference between medical discount plans and health insurance. Ask specific questions to make sure you know what you’re getting.

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Do check out an unfamiliar company that says it sells plans through a major insurer. The affiliation should be confirmed with the big-name insurer.

Don’ts ●

Don’t enter personal information on a website in exchange for a price quote. You likely are setting yourself up for identity theft or a barrage of sales calls.

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Don’t keep talking to a sales agent who gives vague or evasive answers to coverage questions or tells you the details are “in the brochure.”

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Don’t sign up for a plan if the bar for acceptance seems too low — for example, if you are not required to get a physical or provide a medical history.

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Don’t give bank, credit card or personal information, or make a payment, in exchange for assistance in getting ACA coverage.

Thank You!

This presentation was prepared by: Bhawna Lawera Manager, Health 2.0 Conference https://www.health2conf.com/