We’re not totally against medical discount plans— they can be helpful in some cases if you’re looking to cut costs— BUT if you’re thinking of joining one, it’s incredibly important to be very clear on what a medical discount plan can do for you and what it can’t. And the most important thing about what a medical discount plan can’t do for you is act as health insurance.
And unfortunately, many medical discount plan are sold as health insurance which they are not:
Health insurance – Several companies affiliated with a telemarketing scheme that allegedly tricked consumers into buying worthless medical discount plans have agreed to repay some victims and to stop making false representations to consumers. The Federal Trade Commission had accused the companies of targeting consumers seeking affordable health insurance and getting them to pay for discount medical plans that were not insurance. In a settlement with the FTC, Health Care One, Americans4Healthcare Inc., Elite Business Solutions Inc. and Mile High Enterprise Inc. and their principals agreed to stop the practice and to surrender proceeds from the sale of an Aston Martin, a Maserati, a yacht and two motorcycles to the government.
Scam watch: Financial aid, health insurance, alleged Ponzi scheme
Have you ever considered joining a medical discount plan? Tell us about it in our discussion forum!
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- Healthcare Reform: College Student Health Insurance Plans Continue… For Now
- Limited Benefit Plans (“Mini-Meds”): Affordable, Low-Cost Health Insurance or Not Worth the Paper It’s Written on?
- High-Deductible (Catastrophic) Health Insurance Plans: What Are They? Are They Worth It?
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