Help please: Info on HealthMarkets/Mega Health Insurance

Has any Tugger had good/bad experience on HealthMarkets or Mega Health Insurance? My son works as a mechanic at a Cadillac place and they just raised his family premium from $500/mo to $900/mo. He somehow found this HealthMarkets at a much lower price and changed to it.

I am now VERY concerned as I was checking scams in Google and up comes this company. Am afraid my son and his family have been ripped off with money they don't have. Any information on this company will be very welcome!

HealthMarkets, Inc. - From Hoover's Profiles

HealthMarkets rating and financial info from AM Best - requires registration
I 'm sorry - this link didn't take you to where I wanted - if you go to http://www.ambest.com/ and put in healthmarkets in the search bar, you'll come up with info

Richard

Mega Life and Health Insurance Company: Bad Faith Denial of Claims


Richard

Cathyb said:

Has any Tugger had good/bad experience on HealthMarkets or Mega Health Insurance? My son works as a mechanic at a Cadillac place and they just raised his family premium from $500/mo to $900/mo. He somehow found this HealthMarkets at a much lower price and changed to it.

I am now VERY concerned as I was checking scams in Google and up comes this company. Am afraid my son and his family have been ripped off with money they don't have. Any information on this company will be very welcome!

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i don't know Mega Health Insurance,but i think $500/mo to $900/mo is too expensive

lzmooo said:

i don't know Mega Health Insurance,but i think $500/mo to $900/mo is too expensive

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Sounds like the dealership stopped putting in what they had previosly contributed. It is expensive but depends on what all it is covering too. It can be very expensive also to get sick and then have high copays your not prepared to pay.

Mega has been our healh insurance provider for the last 5 years. We droped the membership to Nase after the first year. With Mega there are caps on care and higher deductibles but the cost is 37 % less than Regency. The accident insurance with 0 deductible covers most of our problems. When I crunched the numbers for my wifes last procedure, we were still ahead. Should you get sick or have a major health problem you may want to switch providers. In WA a person can purchase any plan sold if you allready have health insurance. For a young person or healthy person these plans work good. For a person with health issues it may be better to buy better insurance.

If you pay annually you get one month free.

One very important consideration with Mega is that Mega caps daily payments. In other words, if your cap is $1000/day for hospital expenses, and the actual charge is $800 per day, you are responsible for the $300 difference Deductibles and copays also must also be me.

So when you see a Mega plant that covers, say, 90 days of hospitalization, that coverage is for 90 days at some capped rate, after copays and deductibles). Other plans that provide 90 days of coverage with cover all hospital expenses for those 90 days after copay and deductible.

Of course, the premium you pay will depend on how high you set that cap. So when making comparisons you need to know how much hospital rates are likely to run in your area.

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When I was getting quotes one time from MEGA sales people, I found that none of them mentioned the payment cap. They just talked about all of the days of coverage that were included in their plan, and compared their rates, decuctibles, and copays with teh quotes I had received from some local plans.

I only discovered the payment cap when I read the details of coverage after the reps were gone. When I called around, I found that the hospitalization caps they has quoted were about 60% of a typical daily hospital charge in my area.

When I looked on-line complaints I noted that quite a few seemed to be from people who thought they were buying full coverage on hospitalization only to find that they were left with some huge obligations when the daily cap only covered a portion of the charges.

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My feeling is that it can work well if you purchase it as a knowledgeable consumer. But as with timeshares, the sales people are generally not good sources of information.