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The rising number of consumers taking out medical insurance policies has led to a rise in the number of scam health insurance providers. These scammers usually target new retirees and the elderly individuals who can’t arrange good rates with legitimate insurers. Read on to find out about 3 ways in which your medical insurer could try to scam you.

1. Not paying claims

Usually sham health insurance agents try to sign up a very large number of individuals quickly by offering them lucrative deals. These insurers are themselves paying small premium amounts and meet small medical claims however, if there is a substantial claim has to be met or regulators catch up with them, these illegal companies will simply disappear as if they never existed.

So, just beware if you are getting delayed payments or if your insurance provider is offering lame excuses for their failure to make the payments. If you have signed up for these illegal plans you might also find that you are liable for the medical bills of your employees as well if you have taken out a plan as an employer for your business.

2. Selling medical plans that are not licensed

If the company from which you have bought your medical plan is not licensed by State Insurance Commissioner then you can be in trouble. In this case your insurer is almost certainly defrauding you by selling non-licensed medical plans.

You also need to know that agents are not permitted to sell ERISA or union plans, both of which are regulated by federal law. So, if your insurance agent tries to dupe you by offering you an ERISA or union plan you need to report this to your state insurance department.

3. Selling unusual cover at low rates

If you are offered exceptional cover regardless of your state of health and at lower rates than you would expect from other insurers then this should start the alarm bells ringing. Do not be taken in by a seemingly too attractive offer because you are more than likely to be taken for a ride. The scammers aim to collect huge sums of money as early as they can and so they will try to sell as many plans as they can as fast as they can before disappearing.

Of course these are just some of the many tricks that the fraudsters get up to but in almost all cases the presence of one or more of these things should make you stop and take a close look at what you are buying.

Arranging medical insurance from legitimate insurers does not have to cost you an arm and a leg so get some free, no obligation affordable health insurance quotes today from one of this county’s top insurance providers.

If you are looking to buy health insurance in today’s bad economic climate then here are 5 five things that you must watch out for.

1. Will your health plan cover you both on and off the job?

A lot of health insurance plans contain specific exclusions which eliminate your benefits for anything which could have been covered by Workers Compensation or similar laws. Now take a moment to read that last sentence once more and pay particular attention to the words ‘could have been covered’. That is correct, most self employed individuals and even some small business owners do not carry Workers Compensation on themselves.

There are specific insurance policies that provide cover on and off the job 24 hours a day, if you are not required by law to have Workers Compensation coverage.

2. Are you writing off your insurance premiums?

Independent contractors (1099′s), home based business owners, professionals and a lot of self employed individuals do not take advantage of the present tax laws.

Many individuals who are paying 100% of their own costs may deduct their monthly insurance payments. Just that by itself can reduce your out-of-pocket costs by as much as 40%. Ask your accountant if you are eligible or check the IRS website to get more information.

3. Look closely at any policy’s internal limits

All health insurance plans have some sort of internal controls which determine how much the insurer is going to pay out for a particular procedure or service. There are two basic methods:

A. Scheduled Benefits

A lot of plans, some of which are specifically marketed to self employed and independent people, have a detailed schedule of what the insurance company will pay per doctor office visit, hospital stay or even what limits are placed on payments for testing within a 24 hour period. This sort of structure is normally seen in ‘Indemnity plans’. If you are offered one of these policies be sure to see the schedule of benefits in writing. It is important that you understand any limits because once you reach them the company will not pay any costs above the stated amount.

B. Usual and Customary Expenses

‘Usual and Customary’ refers to the pay out for a visit to the doctor’s office, procedure or hospital stay that is based on what the majority of doctors and facilities charge for a particular service in that geographical or comparable area. ‘Usual and Customary’ charges also represnt the highest coverage on almost all major medical policies.

4. Remember that you can shop around

Because you are reading this you are probably shopping for a health plan.

Each day people shop for everything from groceries to a new home and while shopping price, value, personal needs and general marketplace conditions are evaluated by the buyer. Bearing this in mind, it is very disconcerting that the majority of people never ask what a test, procedure or even doctor visit cost. In this constantly changing health insurance market it will become increasingly important for these questions to be asked. Inquiring about price will help you to get the most out of your plan and lower your out-of-pocket expenses.

5. Pay attention to networks and discounts

Almost all insurance companies work with medical networks in order to obtain discounted rates. In broad terms, networks consist of medical professionals and facilities who agree to charge discounted rates for services rendered. In most cases the network itself is one of the defining properties of your program. Discounts can vary from 10% to 60% or more.

Medical network discounts do vary but to ensure that you pay the lowest out-of-pocket expenses, it is imperative that you preview the network’s list of doctors and facilities before committing yourself to a plan. This is not only to ensure that your local hospital and doctors are part of the network, but also so that you can see what your options would be if you need referral to a specialist.

Pay attention to these tips and you will find cheap health insurance which provides you with the level of cover you need.