Insurance division warns about non-traditional health insurance policies

The Department of Labor and Regulation's Division of Insurance warns consumers about non-traditional health insurance policies such as limited medical benefit insurance or mini-med plans.

Such policies are not comprehensive major medical health insurance and offer a low level of coverage. There is no limit to how much consumers might have to pay for medical expenses.

Common phrases consumers should beware of include:

  •  Real health insurance
  •  Guarantee issue or acceptance
  • No pre-existing conditions
  •  Premium is only good for limited "open enrollment" period
  •  Designed to pay for smaller, more common claims
  •  Affordable health insurance

To protect themselves, insureds should also ask the agent for their National Producer Number and be sure they are licensed in South Dakota.

Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>