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How to Avoid KY Insurance Fraud

May 20th, 2013     News

The health insurance industry has continually increasing their monthly premiums and a lot of people feel that this is very unfair to you as a consumer.  However, the health insurance industry is also fighting many acts of health insurance fraud.  The amount of money which is spent on the investigation and the prosecution of insurance fraud are passed on to the policyholders.  There are many people who do not know what KY Insurance fraud really is.  Every consumer must understand what health insurance fraud is so that they can recognize and fight fraud.

KY Insurance fraud is defined as the intentional misrepresentation, deceiving and concealing or information so that benefits will be received from the insurance company.  It means that a policyholder is asserting a certain payment for a particular medical expense or procedure out of pocket and he did not actually receive the benefits and he file for a claim to the insurance company in order to receive reimbursements.  Another example is if the policyholder is concealing a pre-existing condition or modifies certain medical documents so that he can receive medical benefits from the insurance policy.  You may think that this is just a small issue but actually this is quiet serious to the health industry and may lead to fines or possibly an imprisonment if you will be caught.

It’s not only the policyholders that commit KY Insurance fraud but also the providers.  It is the doctors and the hospitals that will bill the insurance companies for the services that they provide to you and they are also receiving reimbursements from the insurance companies.  Sometimes they commit fraud by billing higher rates to the insurance company or they will bill some services that you do not received.  It would be best if you stay legal so that you can avoid fines and imprisonment and continue to receive your health insurance coverage.  For more resources and information, go to our website athttp://www.pinsgroup.net/ or call our agents now at 877-334-1597.