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Health Plan Scams: How to Spot and Avoid Fraudulent Schemes
ARTICLE | July 10, 2024
Authored by Vasquez + Company
With healthcare costs soaring, many Americans struggle to afford insurance, making them vulnerable to health plan scams. These scams promise affordable coverage but deliver little to no benefits, leaving victims with both financial loss and uncovered medical bills. Scammers exploit technology and confusion over healthcare reforms to lure victims with aggressive sales tactics and misleading claims of compliance. Recognizing red flags and verifying insurance legitimacy are crucial steps in protecting oneself from these fraudulent schemes.
Key Points
- Scam Tactics: Scammers use aggressive sales pitches and misleading claims to sell fake health plans.
- Warning Signs: Low premiums, vague websites, and requests for financial information are common red flags.
- Impact: Victims face financial losses and uncovered medical expenses, jeopardizing their financial stability and health.
- Protection: Vigilance, thorough research, and consulting trusted agents can help avoid falling victim to health plan scams.
For more information, read the full article here.
Our firm provides the information for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. This article is not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided “as is,” with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose
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