The process of shifting through health insurance options can be daunting. However, it’s important to take time to review all the details of a plan as many Americans experience health insurance scams unknowingly. This could leave you responsible for endless medical bills.
According to the Federal Communications Commission, healthcare scams tend to occur more often during enrollment periods. The enrollment period for the Affordable Care Act is November 1 to December 15 while Medicare’s is October 15 through December 7. Anti Fraud News notifies our readers of the latest health insurance scams and other scams that may affect your financial future.
What Are Some Warning Signs for Health Insurance Scams?
Many people are vulnerable to these scams but looking out for these warning signs of health insurance scams helps protect you and your family.
Anyone that tries to charge you a fee to find the best insurance policy is a scam. People who can help you navigate the Health Insurance Marketplace aren’t allowed to charge for their services. For Medicare, they will never email or call you and tell you you’re losing coverage or owe them a fee. If you’re questioning the legitimacy of a claim, contact the program directly.
Medical Discount Plans
These plans promise to help save you money on things that your regular insurance may not cover. You simply pay a monthly fee, and you receive these discounts. While some are legitimate, oftentimes, high-rate medical discount programs are a red flag. Before signing up for this plan, review the details and coverages closely and get all terms in writing.
If your insurance company reaches out to you, they will never ask for personal details. Any caller phishing for information is usually associated with a health insurance scam. They may also use email to claim to be a government official or health insurance employee notifying you that you’ll be losing coverage. Beware of these correspondences.
Why Are Health Insurance Claims So Common?
Unfortunately, because so many of us are looking for affordable medical coverage, it makes it easier for scammers to surface. It can be very tempting to want to take a good deal to cut back on expenses. However, health insurance scams wouldn’t exist if there weren’t individuals who are vulnerable to being scammed.
The most vulnerable to these scams include:
- Those with chronic medical conditions that lead to costly treatments
- Lower-income people
- The elderly
- Those who don’t know how to verify the information they’re told or who don’t know much about health insurance
How Do I Choose a Reliable Health Insurance Company?
The best source for checking a company’s reputation is the Better Business Bureau. If you find limited or no information about the business there, that’s probably a sign that you shouldn’t trust your money with them. Also, if you’re looking for health insurance quotes, you can trust those you receive on the Health Insurance Marketplace at healthcare.gov.
How Can I Report a Health Insurance Scam?
To report a health insurance scam, visit reportfraud.ftc.gov or for Medicare scams, medicare.gov. Work directly with your bank to stop or dispute payments that you’ve made. For more serious charges, consider freezing your credit at any or all of the three major credit bureaus to avoid having your credit score affected.
Learn More About Health Insurance Scams
When you’re in the market for a new health insurance plan, Anti Fraud News can offer helpful information to guide the process. To learn more about the latest healthcare insurance scams or other scams that may affect your wallet, visit Anti Fraud News’s Facebook page.