Business Services Industry
New York getting tough on health care plan scams.(News)
Business Insurance, September, 2003
Byline: LAURA B. BENKO NEW YORK-New York regulators have become the latest to crack down on bogus health insurers that have proliferated in the past two years to prey on uninsured individuals and small businesses desperate to find affordable coverage. According to a new report by the New York-based Commonwealth Fund, the United States is facing an unprecedented influx of unlicensed health plans posing as legitimate insurers.
These fly-by-night companies, which tend to crop up when insurance prices are high, typically entice new members with rock-bottom rates, collect premiums and then disappear when bills come due, sticking consumers and providers with heaps of unpaid medical bills. Since 2001, just four of the largest coverage scams have left 100,000...
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