The Star Tribune writes the folowing article:
A prominent member of the Senate Finance Committee U.S. Sen Chuck Grassley, R-Iowa is looking into some niche health insurance plans offered to AARP members to see if they mislead purchasers into thinking the coverage is greater than it actually is.
Instead of capping what the policyholder pays, as traditional insurance does, these plans cap what the insurer pays. As a result, a policyholder who needs expensive care, such as major surgery, might wind up liable for thousands of dollars in medical bills if they exceed the insurer's share. The plans generally have lower premiums than traditional insurance with catastrophic coverage.
"The pitch for these products should be straight-up and informative, instead of designed to leave the impression of being comprehensive when the product is in fact very limited," Grassley said in a statement late Monday. "A big-time advocate of health security [AARP] should not target under- and uninsured Americans with misleading marketing."
Grassley sent letters Monday to state insurance commissioners asking if they've received complaints on the plans. He also sent a letter to AARP Chief Executive William Novelli asking how the plans are marketed.
"We're treating the questions raised by Sen. Grassley very seriously," said Adam Sohn, an AARP spokesman. "The indemnity plans are not designed to be comprehensive insurance, nor should they be communicated in this manner."
UnitedHealth spokeswoman Martha Jones said, "We do not market this as major medical catastrophic insurance, or as an alternative to major medical. All advertising materials note the plan offers limited benefits.''
AARP health insurance has limitations in coverage and many AARP members appear to have maybe misunderstood what they were covered for. Obviously not enough health care insurance coverage for any policy but AARP members may have believed different.
Tomorrows Home Business can help fill this major shortfall in health insurance coverage if the business model stratgies are followed. Visit the Tomorrows Home Business conference room on Thursdays at 6pm Pacific to see how Dr Raymond Jewel PhD Economic Adviser presents his economic model of Tomorrows Home Business. As an economist Dr Jewel looks at many businesses and always produces economic models with ten year projections which he has done for Tomorrows Home Business. Interesting data believe me . It will help ease your worry about any AARP health insurance shortfall.
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