Why Cheap Illinois Health Insurance is Dicey

Is affordable Illinois health insurance an oxymoron? The old adage: “You get what you pay for,” is applicable to the cheap health insurance coverage. But, more and more underinsured are bamboozled by marketing jargon and the fine print exclusions. For some 40+ million Americans without health insurance, there is a lack of consumer information about buying a medical insurance policy.

A small business owner of Elgin Illinois, who operated a snowplow business, a heart attack left him financially devastated. Despite his cheap health insurance coverage, unbeknownst to him – the company was a sham. The bogus health insurance company commandeered the premiums, which he paid for more than two-years.

Once upon a time, these health insurance scams affected a small percentage of the population. In the beginning of the millennium, approximately 100,000 policyholders were scammed by fake health insurance companies, accounting for more than $85 million dollars of unpaid medical bills.

Today, these bogus cheap health insurance policies are national, affecting people in Illinois and across the nation. From the discount medical card, the dreaded disease policy (a policy which says that it covers chronic ailments such as cancer, heart disease) to the faith-based health plan, these inexpensive health scams cost the consumer in the end.

The cheap health insurance inflicts an aftermath of financial devastation. Once the unsuspecting policyholder develops an illness, necessitating hospital stay, these illicit insurance companies disappear without a trace. Meanwhile, consumers are saddled with an outrageous hospital bill, and the stigma of a “pre-existing medical condition,” rendering them uninsurable.

Nevertheless, two tips may safeguard consumers against being victimized by Illinois health insurance fraud.

1. As due diligence is necessary, be sure to conduct your own background check, researching the Illinois health insurance company. Call the State of Illinois Attorney General’s office to confirm that the company holds a current license and does not have any reports or complaints. If your investigation determines that the Illinois health insurance provider  not licensed or if the agency alleges that they are exempt from adhering to regulatory guidelines, it is an indication to continue shopping for another policy.

2. Obtain a quote from a legitimate insurance agent. Although a reputable insurance broker won’t offer cheap Illinois health insurance coverage, you’ll have the peace of mind that your medical bills will be paid if any unforeseen health crisis occurs.

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Tags: Illinois health insurance, illinois health insurance coverage, illinois health insurance quote, illinois medical insurance

This entry was posted on Wednesday, October 7th, 2009 at 1:07 pm and is filed under Illinois health insurance. You can follow any responses to this entry through the RSS 2.0 feed.