Insurance fraud makes coverage a complex matter Insurance can be a very tricky subject to navigate. Every sector of the insurance industry is awash with regulations, standards, and complex business practices that can make understanding coverage a chore at best. The complexities of insurance can cause a great deal of confusion, even among those that should not be confused. In the U.S., state and federal lawmakers often pass legislation in an attempt to mitigate the dangers that exist within the insurance sector. Much of this legislation institutes regulations that govern…
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Health insurance fraud spikes as exchanges go live
Health insurance regulators are combating a tide of fraud Health insurance exchanges throughout the U.S. have proven popular with consumers, but many people may be at risk of falling victim to fraud and misleading tactics by those that seek financial gain. The New Hampshire Insurance Department has sent a cease and desist letter to an insurance brokerage based in Arizona this week. The company is being accused of misleading New Hampshire residents into thinking that it represented the state’s health insurance exchange. The company’s website has since been taken down,…
Read MoreHealth insurance scams may emerge as exchange pick up momentum
Consumers warned to be cautious of health insurance scams Health insurance exchanges have officially launched throughout the U.S. as part of the Affordable Care Act. The exchanges are meant to provide people throughout the country with access to affordable health insurance plans. So far, these exchanges have been quite popular, with consumers flocking to the virtual marketplaces to find policies. In New York’s exchange, more than 10 million people attempted to purchase coverage through the state’s exchange on its first day. While these health insurance exchanges seem popular with consumers,…
Read MoreIdaho officials warn of health insurance fraud
Fraud activities cause concern for health insurance regulators Idaho residents are being warned by the state’s Department of Insurance to be cautious of fraud concerning the Affordable Care Act. State regulators are suggesting that some consumers may be targeted by malicious groups that seek to exploit the confusion surrounding the federal law. This exploitation could lead to major financial disturbance for some consumers and leave them without adequate health insurance coverage. The Department of Insurance has begun working to inform consumers of what they can look for in order to…
Read MoreInsurance fraud lawsuit filed by Allstate
The insurer has filed a lawsuit worth $6.6 million against 47 durable medical supply companies and their owners. Allstate has just filed a new insurance fraud lawsuit in order to help to recover $6.6 million in treble damages against 80 defendants throughout the states of New York and Florida. The insurer is not new to this type of filing, as it is the fourth that it has made since the start of the year. The insurance fraud lawsuit filing was also the 48th that Allstate has made since 2003, in…
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