• Report: #416298

Complaint Review: HealthMarkets / Mega Life / Chesapeake

Thank You

Read how Ripoff Report saves consumers millions.

  • Submitted: Mon, January 26, 2009
  • Updated: Mon, January 26, 2009

  • Reported By:Irving Texas
HealthMarkets / Mega Life / Chesapeake
9151 Boulevard 26 North Richaland Hills, Texas U.S.A.

HealthMarkets / Mega Life / Chesapeake HORRIBLE INSURANCE PRODUCTS - HORRIBLE COMPANY North Richaland Hills Texas

What's this?
What's this?
What's this?
Is this
Ripoff Report
About you?
Ripoff Report
A business' first
line of defense
on the Internet.
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

Does your business have a bad reputation?
Fix it the right way.
Corporate Advocacy Program™

SEO Reputation Management at its best!

I'm an honest to goodness seasoned executive in the health insurance industry, with long-term experience with multiple Top-5 health insurers. I accepted a HealthMarkets offer to join their team under the premise of building a credible managed care organization that would market and deliver industry standard benefit plans (PPO, EPO, POS). I voluntarily left HealthMarkets (and returned to another Top-5 healthplan) after only 18-months, due to their overt unwillingness and dismissive attitude toward creating products/plans that offered true value to their members.

I've had the unfortunate opportunity to work among all of the HealthMarkets senior leadership team, including their recent COO and CEO and while I delivered tangible managed care savings, HealthMarkets is unwilling to direct these saving into their benefit plans and ultimately to the member/consumer.

It is utterly apparent and obvious that HealthMarkets is not and will not accept any MEDICAL EXPENSE RISK, and rather underwrites and prices their products to a DOLLAR-FOR-DOLLAR payout at best.

This is best demonstrated by the simple example that HealthMarkets directs their members to a specific network of hospitals and physicians (PPO) in order to reduce medical expenses for themselves and their members - this is a good thing and is what nearly all healthplans do. HealthMarkets saves MILLIONS OF DOLLARS by doing this every year. However, even the cost to HealthMarkets for using these PPO provider networks is passed onto their members as part of their monthly premium. As if this is not bad enough, not only does HealthMarkets pass this cost onto their members, but they have the nerve to mark it up and actually create an additional revenue stream from it.

If you are an uninsured individual, perhaps self employed and seeking individual coverage, do yourself a big favor and put your monthly premium back in the bank and perhaps seek a HSA for yourself.

HealthMarkets coverage is not going to help you, even in catastrophic medical situations.

Managedcarevp
Irving, Texas
U.S.A.

This report was posted on Ripoff Report on 01/26/2009 11:23 AM and is a permanent record located here: http://www.ripoffreport.com/r/HealthMarkets-Mega-Life-Chesapeake/North-Richaland-Hills-Texas-76180/HealthMarkets-Mega-Life-Chesapeake-HORRIBLE-INSURANCE-PRODUCTS-HORRIBLE-COMPANY-Nort-416298. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

Click Here to read other Ripoff Reports on HealthMarkets / Mega Life / Chesapeake

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Search Tips
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?

Advertisers above have met our
strict standards for business conduct.



Ripoff Report Legal Directory