Friday, March 20, 2009

MEGA Health Insurance and the NASE - STAY AWAY!

If you are like me and self-employed, the options for health insurance can seem kind of slim - and they are in fact. That is why stumbling across a plan through the National Associate of the Self Employed seemed like a good deal. It was a fairly inexpensive plan (around $300 for 2 people) that the selling agent said had all sorts of coverage, we could keep the same docs, etc.

What really happened is they don't actually pay out ANYTHING. Luckily I only used it for my annual routine physical. What ended up happening is MEGA applied a "discount" to the bill and then stuck me with the rest. That discount was about $30. The bill had all sorts of footnotes telling me to read my policy, which is 100's of pages long in a bound book and nearly impossible to understand. I defaulted to the sales agent's description of the policy - trust I should not have extended him. His name, by the way, is: Robert Stauffer, bobstauffer1@msn.com (720) 341-6013. The MSN address should have clued me in that he likely changes his email address regularly after enough complaints come in.

After doing some homework on MEGA and NASE (something I should have done before getting the policy), it appears I am far from alone in this issue. In fact, a number of class action lawsuits have been filed against both companies (or perhaps they are the same company). Luckily, I am only out a few hundred dollars.  Many are out tens to hundreds of thousands of dollars with them.

Anyone know of a good health insurance policy for the self employed???

Some interesting reading on NASE below. Please spread this word through the self employed industry.

http://www.thehealthcareblog.com/the_health_care_blog/2007/07/health-plans-me.html#comments
http://www.boston.com/business/globe/articles/2004/01/18/premium_deal_with_complications/
http://www.thedoctorweighsin.com/journal/2007/8/1/we-must-be-stupid-stupid-stupid-mega-life-and-health.html
http://www.ripoffreport.com/reports/0/131/RipOff0131154.htm#126103
http://attorneypages.com/hot/be-wary.htm
http://www.nowpublic.com/tech-biz/mega-life-health-health-markets-finally-get-what-they-deserve
http://www.businessweek.com/magazine/content/04_37/b3899076_mz021.htm

What's funny (well, sort of), when you Google MEGA Insurance, you get 1 hit for the actual company and then the rest of the page is filled with articles like those above. Doh!