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Health Insurance

Fear Itself.....I doubt it, why are insurers bailing on Obamacare on a nearly weekly basis? Aetna just announced last week they would no longer participate. Many others are already gone. Remember that Obamacare removed "lifetime" benefit limits, how can an insurance company set premium rates when its financial exposure is unknown and unlimited????
 
The Old Jaybird said:
EVERY examination we performed included claim service analysis, time studies in other words. Probably 99% of claims are paid within 30 days....this is almost a nationwide standard....but it is measured from the date the company has complete "proof of loss" as defined in the contract, to the date of payment. If there are incomplete claims, coding errors, etc. the clock doesn't start, by law, until these problems are resolved.

Aflac is very good, their TV commercials claiming one day payments is accurate. Claim received on Tuesday, paid on Wednesday = one processing day.

We paid close attention to "outliers", claims that took longer than normal to process. The numbers of claims for big companies like BC/BS are huge....a million a month is not uncommon. Getting a workable sample is a nightmare. Based upon my experience with large health insurers, 98%+ of claims are paid promptly and correctly.
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I'm a 2%er then, every claim I ever had has been ****ed up. The burden usually falls on me to correct it or off to a collection agency it goes. Your 99% of claims paid in 30 days is false too but maybe I'm the exception or just cursed. Never once has an error been made in my favor...coincidence???
 
All of my findings are public documents...search away. I started examining insurance companies in Sept. 1974 at IL BC-BS in Chicago. My last exam was Golden Rule in Indianapolis, ending in October 2011.
 
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