“Call right now, and you’ll also receive free vision and dental coverage!”
That quote is from a recent video pitch for one association’s health coverage. The problem: the plan was illegal. The policies were never filed with state regulators, nor was the insurer registered with the state.
As the economy has soured and health care costs soar, people desperate to find affordable health coverage need to be more wary than ever. What seems like a deal may well turn out to be an illegal plan, with no assurance that medical claims will actually be paid.
“People can get taken advantage of twice in these situations,” said Washington state Insurance Commissioner Mike Kreidler. “They pay the premiums in good faith, thinking they have solid coverage. Then they have problems getting claims paid, and are on the hook for those medical bills, too.”
Among the things to be wary of:
-Unreasonably low costs: One plan offered what sounded like comprehensive coverage for $199, regardless of health history. Consumers should be extremely cautious about plans that promise such bargain-basement rates for generous-sounding benefits. If it sounds too good to be true, it probably is.
-Unusual marketing, such as an unsolicited phone call, fax message or e-mail message.
-High-pressure sales tactics, such as suggesting there’s a special rate that expires unless you sign up immediately.
-Companies that want money up front before they’ll send you information about their products.
-Easy acceptance. Be cautious about companies that promise coverage with little or no health screening or questionnaire. Insurers, particularly those in the individual insurance market, often want to know about pre-existing medical conditions.
-Companies that offer little contact or location information. Be especially cautious if the only contact information is a toll-free number and the person on the phone seems vague or evasive about details.
If you suspect that an offer is really a scam, please call the Washington state Office of the Insurance Comissioner at 1-800-562-6900 to verify that the company is legitimate before you sign anything or provide any financial information to the company.
Jumat, 19 Maret 2010
Selasa, 16 Maret 2010
Which are the most expensive (or the cheapest) cars to insure?
Insure.com has come out with its annual list of the cheapest/most expensive vehicles to insure, ranging from the Porsche 911 Carrera GT2 ($2,944 a year for a 40-year-old male with a good driving record) down to the two-wheel-drive Mazda Tribute I, at $1,070.
The link above has a lot more detail, and is searchable by vehicle type, etc. But here's a sampling:
Lowest cost to insure:
1 Mazda Tribute I 2WD 4 Door Utility 4 $1070.25
2 Honda Odyssey LX 5 Door 2WD SOHC Van 6 $1095.26
3 Mazda Tribute I 4WD 4 Door Utility 4 $1103.29
4 Chrysler Town & Country LX 2WD 4 Door 3.3L Wagon 6 $1119.83
5 Jeep Wrangler X 4WD 2 Door 3.8L Utility 6 $1124.38
Highest cost to insure:
1 Porsche 911 Carrera GT2 2 Door Coupe 6 $2943.78
2 Mercedes S65 AMG 4 Door Sedan 12 $2863.03
3 Dodge Viper SRT-10 2 Door Coupe 10 $2851.89
4 Porsche Panamera Turbo AWD 4 Door Sedan 8 $2837.39
5 Dodge Viper SRT-10 2 Door Convertible 10 $2815.90
(Lastly, here's our usual disclaimer: The fact that we mention an insurance company or website doesn't mean we endorse it. We're the insurance regulator for Washington state. But you knew that.)
The link above has a lot more detail, and is searchable by vehicle type, etc. But here's a sampling:
Lowest cost to insure:
1 Mazda Tribute I 2WD 4 Door Utility 4 $1070.25
2 Honda Odyssey LX 5 Door 2WD SOHC Van 6 $1095.26
3 Mazda Tribute I 4WD 4 Door Utility 4 $1103.29
4 Chrysler Town & Country LX 2WD 4 Door 3.3L Wagon 6 $1119.83
5 Jeep Wrangler X 4WD 2 Door 3.8L Utility 6 $1124.38
Highest cost to insure:
1 Porsche 911 Carrera GT2 2 Door Coupe 6 $2943.78
2 Mercedes S65 AMG 4 Door Sedan 12 $2863.03
3 Dodge Viper SRT-10 2 Door Coupe 10 $2851.89
4 Porsche Panamera Turbo AWD 4 Door Sedan 8 $2837.39
5 Dodge Viper SRT-10 2 Door Convertible 10 $2815.90
(Lastly, here's our usual disclaimer: The fact that we mention an insurance company or website doesn't mean we endorse it. We're the insurance regulator for Washington state. But you knew that.)
Insurance news, including Slate's "whipometer"...
The L.A. Times reports that 1 in 4 Californian's lacks health insurance, based on a UCLA study. (Here in Washington state, our office has calculated, it's about 1 in 6.)
Slate's "Whipometer," an indicator of the likelihood of Congress passing the health reform bill, has edged slightly toward passage. (Yesterday it was slightly against.)
And in the United Kingdom, officials are backing off their plan to require 5 million dog owners to buy compulsory liability insurance in case their pets attack someone.
Slate's "Whipometer," an indicator of the likelihood of Congress passing the health reform bill, has edged slightly toward passage. (Yesterday it was slightly against.)
And in the United Kingdom, officials are backing off their plan to require 5 million dog owners to buy compulsory liability insurance in case their pets attack someone.
Senin, 15 Maret 2010
Insurance news: Gunshot wounds and insurance, fraud's up in bad times, and why you shouldn't post video of yourself street racing on YouTube...
Lots of insurance news today:
The Seattle Times' Danny Westneat has a column about readers outraged over big -- big -- health insurance rate hikes. From it:
"I don't know where you got the numbers you're reporting, but they're way too low," phoned Anneliese Whitney, 70, of Renton, in a typical call.
Whitney was ticked off that I cited the state insurance commissioner's office as saying health premiums went up on average 6 to 17 percent last year, depending on the plan or company.
The Times, like a lot of news outlets, has the latest on the health legislation in Congress:
Health Care 101: A consumer primer on Obama’s bill
A look at Democrats’ health care overhaul
ScienceBlog -- a source we don't often get a chance to cite on this insurance blog -- reports on a medical journal's study indicating that people hospitalized with gunshot wounds are substantially more likely to die of their wounds if they're uninsured.
Insurance Journal says that Virginia lawmakers have approved a system that would allow police to quickly check whether a driver has the required liability insurance.
McClatchy has a lengthy story and graphic, based heavily on National Insurance Crime Bureau stats, suggesting that insurance fraud has risen during the recession.
From California comes this helpful hint: If you're filing a claim saying that your car was damaged in an accident, it's a bad idea to put up a YouTube video showing you wrecking your car while street racing. That's what a CA brother and sister allegedly did, according to the LA Times.
Lastly, from the Tampa Tribune: Staged crash sweep nets arrests. Interesting facts from story: hundreds of people were arrested in Florida last year for staging crashes, and Allstate says that fraudulent claims account for $200-$300/year per insured driver.
The Seattle Times' Danny Westneat has a column about readers outraged over big -- big -- health insurance rate hikes. From it:
"I don't know where you got the numbers you're reporting, but they're way too low," phoned Anneliese Whitney, 70, of Renton, in a typical call.
Whitney was ticked off that I cited the state insurance commissioner's office as saying health premiums went up on average 6 to 17 percent last year, depending on the plan or company.
The Times, like a lot of news outlets, has the latest on the health legislation in Congress:
Health Care 101: A consumer primer on Obama’s bill
A look at Democrats’ health care overhaul
ScienceBlog -- a source we don't often get a chance to cite on this insurance blog -- reports on a medical journal's study indicating that people hospitalized with gunshot wounds are substantially more likely to die of their wounds if they're uninsured.
Insurance Journal says that Virginia lawmakers have approved a system that would allow police to quickly check whether a driver has the required liability insurance.
McClatchy has a lengthy story and graphic, based heavily on National Insurance Crime Bureau stats, suggesting that insurance fraud has risen during the recession.
From California comes this helpful hint: If you're filing a claim saying that your car was damaged in an accident, it's a bad idea to put up a YouTube video showing you wrecking your car while street racing. That's what a CA brother and sister allegedly did, according to the LA Times.
Lastly, from the Tampa Tribune: Staged crash sweep nets arrests. Interesting facts from story: hundreds of people were arrested in Florida last year for staging crashes, and Allstate says that fraudulent claims account for $200-$300/year per insured driver.
Rabu, 10 Maret 2010
Insurance news: lawsuit filed against annuity broker, Sebelius confronts insurers, confusion over health mandate
The Seattle Times reports on the first lawsuit filed against annuity broker Rhonda Breard who's accused of running a multi-million dollar Ponzi scheme.
Side bar: want to learn about annuities? See our new special section on the subject.
Many news sources picked up on Health and Human Services Secretary Sebelius' ultimatum to insurers - stop attacking and start lowering premiums
A poll conducted by one of our local NPR stations (KUOW shows that many in the Northwest are confused by the health are mandate.
And speaking of mandates, AP reports that pet lovers (who enjoy universal health care) could have an added charge.
Side bar: want to learn about annuities? See our new special section on the subject.
Many news sources picked up on Health and Human Services Secretary Sebelius' ultimatum to insurers - stop attacking and start lowering premiums
A poll conducted by one of our local NPR stations (KUOW shows that many in the Northwest are confused by the health are mandate.
And speaking of mandates, AP reports that pet lovers (who enjoy universal health care) could have an added charge.
West Seattle man sentenced in insurance fraud case
A West Seattle man has been sentenced to 6 months of electronic home monitoring and must pay more than $26,000 in restitution for first degree theft in an insurance case.
Edward Charles Bailey, 59, reported an on-the-job back injury to his employer in 2006. He was placed on temporary total disability and received disability pay from his employer’s insurer, Alaska National Insurance. Doctors subsequently ruled him unable to return to work.
Five weeks after the injury, investigators working for the insurance company videotaped Bailey working vigorously on his sailboat at a Seattle marina. The sanding, painting, climbing and moving of machinery were all contrary to the physical restrictions imposed by Bailey’s doctors, according to the Washington insurance commissioner’s Special Investigations Unit.
When shown the video, the independent medical examination doctors who had originally seen Mr. Bailey reversed their original opinion as to his ability to work.
Bailey pleaded guilty to the charge. The restitution covers unnecessary medical expenses and disability benefits that he was not entitled to.
Edward Charles Bailey, 59, reported an on-the-job back injury to his employer in 2006. He was placed on temporary total disability and received disability pay from his employer’s insurer, Alaska National Insurance. Doctors subsequently ruled him unable to return to work.
Five weeks after the injury, investigators working for the insurance company videotaped Bailey working vigorously on his sailboat at a Seattle marina. The sanding, painting, climbing and moving of machinery were all contrary to the physical restrictions imposed by Bailey’s doctors, according to the Washington insurance commissioner’s Special Investigations Unit.
When shown the video, the independent medical examination doctors who had originally seen Mr. Bailey reversed their original opinion as to his ability to work.
Bailey pleaded guilty to the charge. The restitution covers unnecessary medical expenses and disability benefits that he was not entitled to.
Selasa, 09 Maret 2010
Us, by the numbers...
With apologies to Harper's Index, here are some of the numbers we deal with as Washington state's insurance regulator:
- 1,300+: Number of insurance companies, HMOs, etc. that we monitor.
- 220: Number of employees we have.
- $28 billion: How much Washingtonians spend on insurance coverage each year.
- 6,000: Number of consumer complaints we try to solve, on average, per year.
- $10 million: Amount we recover for consumers annually, on average, in delayed or wrongfully denied claims.
- 95,000: the number of agents and brokers whose testing, licensing, continuing education and performance we oversee.
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