Correct...but that is the kind of plan people were buying in many states thinking that they had real insurance. When you see a sign on the side of the road saying family coverage as low as $249 a month...wouldn't you see red flags all over? Many did not and then complained that their cancer wasn't covered...in many cases they were wrong. It was covered but there were annual or lifetime limits.
Scumbags prey on those who can least afford it. I sat with a man, his wife, and employer 6 months ago and he had just dropped group coverage for one of these policies. When I sat him in front of the computer and googled the company, he was unmoved by lack of info.
He dealt with them 100% over the phone...SS#, date of birth, etc. He had nothing...no marketing materials, plan designs...only what he was told on the phone. They assured him that his doctors would all take it, there was no pre-existing conditions, etc. I advised him to contact the PA insurance department and ask if they were licensed to sell insurance in PA. They were likely unregulated because their product is not an insurance product and they are very careful not to call it health insurance.
There was absolutely no info on this company except they did business with one hospital network in a bordering state. They did take his credit card number and assured him he could get a full refund within 30 days if not satisfied.
His wife got pissed at me as she could tell her husband was getting upset as the conversation continued. I said...good luck...you apparently have all the info you need. The employer said...thank you...just wanted to make sure he knew what he was doing.
Another one duped...this guy was about 50 years old with medical issues.
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