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Health Insurance Fraud

Health Insurance Fraud

It is not only occurring on health Insurances but in to different insurances that are offered all over the world. Many more people are becoming a victim by these fraud insurances in which instead of giving you what they are supposed to do when the time you need it most, you end up discovering you have been a victim of a fraud health Insurance and you have to suffer the consequences especially when that is the only insurance you are able to avail. You end up paying everything making all the premiums you paid loss in space in just a snap of your finger. At most critical times, it can even cause severity of illness or death since you never expected getting nothing from your insurance and since you have no enough money at hand, you cannot pay for treatment even for the members of the family.

This should not be the case, as the government has required every citizen to have a health insurance; there have been a vast demand for acquiring health insurance. These Health Insurances come with many different plans to suit your needs and lifestyle. Brokers can really make you think that what they offer is really the best that you can actually afford and for those who are under the fraud health insurance, they’ll do everything to make you say “yes” and the crime is already started. Fraud can be in many forms such as paying to a non-existent insurance company, paying too high premiums as what is really required, receiving less assistance as to what the Health Insurance plans are supposed to give, and having no assistance to the health insurance you are expecting to assist you.

The key to prevent Health Insurance Fraud is knowledge. Knowing what you really need and knowing the different terms language under the Insurance’s cycle will really do you good. Terms such as copay, deductibles, out of pocket money, coinsurance, and others must be revealed to you in which not knowing their definitions can really fool you. Read the policy in which a broker should be able to hand to you. Read it carefully and understand every single detail. Ask questions if there is something that you cannot understand. Asking questions is already a sign that you know something and it can prevent you of being fooled. Before signing any agreement, make sure you read all the documents to assure that you fully agree to the terms and condition for the health insurance.

The internet is always there for you to search about the health insurance you plan to join to. Make sure that they are of good reputation and with the right documents so that you won’t end up to a non-existent Health Insurance Company. As of 2009, the largest health insurance companies in the United States collected approximately $650 billion in premiums. The largest 25 (ranked by market share) accounted for over 60% of the total.According to the NAIC (National Association of Insurance Commissioners), the top 25 health insurance companies in the USA in 2011 were:

  • Unitedhealth Group
  • Wellpoint Inc. Group
  • Kaiser Foundation Group
  • Aetna Group
  • Humana Group
  • HCSC Group
  • Coventry Corp. Group
  • Highmark Group
  • Independence Blue Cross Group
  • Blue Shield of CA Group
  • Cigna Health Group
  • BCBS of MI Group
  • Health Net of California, Inc.
  • BCBS of NJ Group
  • BCBS of FL Group
  • Regence Group
  • BCBS of MA Group
  • Carefirst Inc. Group
  • Wellcare Group
  • HIP Ins. Group
  • Metropolitan Group
  • Unumprovident Corp. Group
  • Universal Amer Fin Corp. Group
  • Lifetime Healthcare Group
  • BCBS of NC Group

Hope that this may help you out in choosing the Health Insurance for you.

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