A little white lie on your health insurance application may seem like a harmless enough way to save yourself some money, but getting caught is going to cost you…a lot.
When deciding whether you want to take that risk there’s a lot to consider and be aware of; we’ve broken down the broad-strokes here to fill you in, so you’ve been warned!
Health Care Reform 2014
Through 2014, there really isn’t much reason for you to lie on your health insurance application, at all. Many of the kinks and swindles have been ironed out under the new health care reform, specifically those relating to pre-existing conditions. Coverage refusal and premium hikes, due to pre-existing conditions, is now a thing of the past!
Save yourself a lot of financial distress by fully researching this new health care reform and consulting with a financial expert before you fraud your application—you might very well be lying for no reason.
Successful Lies Are Rare
Think about it for a minute: Do you really think the insurance companies aren’t anticipating lies? They’ve been dealing all manners of application lies for decades, they know them when they see them, and they want to find them.
That’s right; they want to find that you lied when you file your claim—it’s like winning the lottery, only it happens far more often. As soon as you file your claim, they’re going through your application with a fine-tooth comb looking for discrepancies that will justify a refusal. If a reviewer discovers your lie, they save money.
How It’s Going To Cost You
Right at that moment when you desperately need that claim filled, they’ll catch you and hand you a refusal. This will leave you with a refusal in one hand, a hefty hospital bill in another, and quite possibly a lawsuit, if this insurance company is catching you a bit late in the game.
Why a lawsuit? When your lie is discovered, your insurance company will void your contract all the way back to when it was initiated. This means that any bills your insurance company has covered previously are now debts you owe the company, and they will sue you in order to collect.
Take Our Advice
Don’t lie! Now is the best time to get the coverage, you can find out more here, that you need and not have to worry much about refusal; even if you do have a significant amount of pre-existing medical history, there are still plenty of options. Do your research, sit down with an insurance specialist, and map out a legal solution—your peace-of-mind and your pocketbook will thank you!