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These scams are usually directed toward senior citizens and offer supplemental medical insurance at rates well below those of legitimate insurers.
In these cases, any insurance actually obtained (if any) will be inadequate, substandard, inappropriate and not what was claimed in the solicitation. In some cases, the low premium may increase substantially within thirty days.
The fine print in these policies can be quite revealing, if read, and in one case the USPIS reports a 93 year-old woman ended up with maternity insurance rather than supplemental medical coverage.
The USPIS recommends you be suspicious if a company requests that
you pay your premiums in cash
pay a year's premium in advance
pressures you to buy immediately because "it's your last chance,"
requests that you sign a blank insurance form.
protects for only "pennies a day."
Additionally be cautious of any company name which implies it is connected to the federal government or the Medicare/Medicaid programs.
If the company name implies it is connected with, or a subsidiary of, a well-known highly respected medical insurer, such as Blue Cross/Blue Shield, Prudential, etcetera, it's a good idea to telephone the main office of this larger "parent company" and see if such a tie exists. (If it doesn't, the fraud units of such insurance companies will be very glad to hear from you.)
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