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Ex-insurance exec confesses health insurers dump sick people

Thu, 2009-06-25 09:03 — ABN

A retired health insurance executive — in a shocking but not terribly surprising admission — confessed Wednesday that insurance companies deliberately confuse policyholders and attempt to dump sick patients to plump their profit margins.

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Comments

Fri, 2009-06-26 00:12 — ZAcharyU

That was a bit disgusting.

That was a bit disgusting. They are ought to acquaint the insurer the right policy contract and not to confuse them, it sound like deceiving them. I do appreciate the honesty of the retired health insurance executive of disclosing the unethical practice of such agency. It will serve as a warning to some insurer to terminate the policy. The fraudulent are always on the lookout for a new way to rip people off, and one of the most common Ponzi schemes come in the guise of a start up company. They need investment capital due to the recession, and after you give them a cash advance, you'll get a payment or two, but they will stop soon afterwards, and the promise of continued returns is how people get hooked into a Ponzi scheme.