Bargain shopping isn't always the way to go, particularly when it comes to insurance. As consumers and employers are forced to look harder to find affordable health insurance they become more vulnerable to companies that appear to offer incredibly low premiums but which may in fact be scam companies.
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Consumers
should always check with the North Carolina Department of Insurance
before purchasing a new policy to be sure the company is valid and is
licensed to do business in the state. If the company is unauthorized
and unlicensed, no financial safety net exists if they become
insolvent, leaving consumers stranded. Many of these questionable companies offer what they call
"health care benefits." They also often offer coverage for people with
serious pre-existing health conditions that other companies may not
insure. Some of the companies take payments for premiums then
close up shop and leave town, leaving consumers completely unprotected.
And people may not realize it until they file a claim for coverage and
realize they've been left with no protection and a pile of medical
bills. In other cases, because the companies aren't licensed,
they aren't regulated and will deny claims with no recourse to the
consumer.
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