Health insurance has become essential in the United States, with the cost of medication claiming more than half of the family income every year. Health insurance covers all major expenses of routine and emergency medical procedures. There are various types of health insurances available both online and from the various insurance companies, brokers and local insurance agents. Majority of the people take health insurance seriously, but there are many who cannot afford health insurance for their families, due to the high prices of health insurance plans. The federal government has designed a number of low cost health insurance programs that provide poor families and children with the required medical care.The low cost health insurance program offered by the federal government is Medicaid and is regarded as the oldest and appropriate low cost health insurance program. It is designed for low-income families, children and pregnant women that come under the federal poverty level. Medicaid covers all the necessary medical expenses, such as hospital and doctor visits, prenatal care for pregnant women, drugs and other recommended medical treatment. There are health insurances offered by leading insurance companies and local agents at affordable rates. Group health insurance has become a popular option offered by a number of profit and non-profit organizations. Many companies offer group health insurance to their employees, which enable the workers to obtain affordable health insurance premiums and the maximum number of medical services. The policy of group health insurance involves the participation of the HMO or health maintenance organization and other major medical groups, such as Blue Cross and Blue Shield.While choosing a low cost health insurance plan, it is advisable to get as many quotes as possible from the different insurance companies. They should be compared and the one that is most appropriate and affordable should be selected.
Insurance fraud. It happens daily. There are a number of bogus health insurance companies and agents in Dallas, Houston or anywhere else in Texas who will take your money and run. So, before you purchase health insurance for your employees or your business, make sure the insurance company you’re dealing with is legitimate. Start by checking your insurance agent’s credentials to be sure he or she is licensed to sell insurance in Texas.An insurance scam artist may act without a license or use fictitious documents to appear legitimate. The following information will provide what you need to make the right decision when purchasing health insurance for your business or individual employees. The scammers are out there just waiting for you to take the wrong step. Make sure you know what’s waiting for you before you get scammed out of a lot of money.In the last couple of years, the Texas Department of Insurance (TDI) has shut down 51 agents and 10 companies for selling unauthorized insurance. There are currently 376 open investigations against suspected unauthorized insurance scams in Texas.The first thing is to check to see if a potential company is authorized to sell insurance. Then check to see if your insurance agent or agency is licensed. If you fail to find your company or insurance agency, don’t assume it’s unauthorized. Check with your agent for more information. Or verify by calling TDI’s toll-free Consumer Helpline weekdays between 8 a.m. and 5 p.m. at 1-800-252-3439. Insurance company data is usually updated at 7 a.m. each business day.Businesses, school districts and individuals are bilked out of thousands of dollars each year by scam artists who misrepresent themselves as insurance agents. So, while the search for affordable health insurance can be a daunting task, don’t blindly follow an agent. But did you know you run the risk of purchasing a phony policy even if you work with a legitimate agent? At times, even experienced agents can unknowingly sell illegal insurance products. Though honest agents will do their level best to avoid such circumstances, it can still happen. Worst of all, you could be on the hook for a wide range of costs and expenses that you thought your insurance was covering.The typical health insurance scam moves pretty fast. Scam agents flood the market to help generate as many quick sales as possible. Often, payments will be requested up front to help ensure they get as much money as possible before they disappear. After the fake agents have reached their goal, they simply sit back and watch the monthly payments roll in. Then, just as quickly as they appeared, they are gone, only to re-appear later under a new name and a new scam. The individual or company may never know they’ve been duped until, after thousands of dollars in premiums have been paid, they then try and file a claim.It’s important to know what to look for. Here are some of the most common signs that an insurance company may be a scammer:• They claim extremely low rates, or offer minimal or no underwriting.• The health plan will accept almost anyone, including those with pre-existing or serious illnesses.• The plan claims to be federal, not state regulated. (ERISA or union plans, for example)• Sales pitches that avoid the word “insurance” or the use of certain insurance terminology even though it operates like insurance. For instance, it pays “consultant fees” instead of commissions, or refers to premiums as “contributions.”• The product claims to be “fully funded,” “fully insured,” or “reinsured” but agents are not told the name of the carrier insuring or underwriting the product.Sometimes the path may seem clear and the choice easy, but in an effort to save money, there may be some things that aren’t clearly visible at first glance. So how can you avoid the scammers? Check out each insurance company and agent you deal with. It only takes a little extra time, but the effort could possibly save you headache, heartache, and thousands of dollars down the road.If you’re a small business owner who would like to offer affordable health insurance plans to your employees, but can’t afford group health insurance, you should consider offering your employees the revolutionary, comprehensive individual health insurance solutions created by Precedent specifically for young, healthy individuals. If you’re interested in an individual health insurance plan on your own, you should also take a look at Precedent.Backed by American Community Mutual Insurance – which has been in business nearly 70 years and is B+ (Very Good) rated by independent A.M. Best – Precedent offers affordable, individual health plans with catastrophic coverage, but without a high deductible, and we’ll offer these plans to your employees at a discount. For more information, visit us at our website, [http://www.precedent.com]. We offer a unique and innovative suite of individual health insurance solutions, including highly competitive HSA-qualified plans, and an unparalleled “real time” application and acceptance experience.