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Don’t Get Scammed: How to Protect Yourself

September 16, 2008

Don’t Get Scammed: How to Protect Yourself

It’s unfortunate but true: health insurance fraud is prevalent in our society and it’s not always possible to protect yourself from becoming a victim. In fact, most people won’t even know they’ve fallen prey to health insurance fraud until they submit a claim for a medical service that they think is covered under their policy. It’s often not until after a claim is denied that most people realize they’ve been a victim of health insurance fraud

Unlicensed insurers are gear up to sell you health insurance policies with a low-priced premium and most people would never believe that there are false insurers out there looking to steal your money. With so many companies offering health insurance policies, how does one decipher which ones are frauds? The current tendency of scams is on the rise due to the huge number of uninsured persons compared to the rising cost of prescription drugs. Simply put, people are looking for the most beneficial deal. There are know-hows to keep yourself secure from these con artists and still pay a reasonable premium.

Does a health insurance firm seem to be proposing a policy that is too good to be true? It could be. Victims of health insurance policy frauds are usually those who go shopping around and find a great deal (and then find that in an emergency they are without insurance policy). There are no readable indicators of fraud unless you know what particular red flags to hear for during their sales talk of their particular plans.

Con-artists are professional person* at what they do because it’s often how they make their entire living. They will have paperwork that appears indistinguishable to a real insurance company and carry on everything that seems to be that of a genuine and lawful agent. First, common frauds include loopholes that make certain what they are selling is not in reality an insurance policy. This would mean it is a discount program of some sort. These scams may reach you by phone, offering a discount to persons who, for any reason, do not qualify for real insurance policy. Also be suspicious if an agent mentions their plan being “reinsured.” It is true that some authorised insurance companies do have reinsurance to protect themselves, but it is never mentioned when trying to sell insurance policy to a client.

Health insurance frauds are not easily spotted-liars may be trying to capitalize on your ignorance. So, it is crucial to know all you are able to about health insurance policy before buying a policy. If somebody calls your home and attempts to sell you a form of health care or health insurance policy, take what knowledge you have and ask as many questions as you can think of. Any indication that this may be a false insurer should be taken to the state insurance regulators for investigation. You could be saving yourself and others from being a victim.

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