Insurance Frauds Forum

If you have been sold a retirement plan by any agent or other person only to discover that what you really have is a form of life insurance, please contact me!!

Used to be Senior Healthcare Consultants (2009), then Apex-Elite (2010), then Lexicon Senior Healthcare (2011), now Buffett Senior Healthcare (2012). It's really the same company run by the same guys running the same scam - all they're trying to do is escape the bad press, which is well documented on the Internet by now.

Released today by the CA Dept of Insurance:

INSURANCE COMMISSIONER DAVE JONES ANNOUNCES SENTENCING OF LOS ANGELES COUNTY BUSINESS OWNER FOR INSURANCE FRAUD

Cellular store owner submitted 2,000 fraudulent claims; ordered to pay $1.2 million in restitution

Please, please advise me…

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This newly issued press release from the CDI is evidence that complaints do matter. If you are having trouble with an insurance company's claims department, the magic words, as seen below, are "UNFAIR CLAIMS PRACTICES" and "DEPARTMENT OF INSURANCE COMPLAINT". Although "Market Conduct Examinations" happen on a routine basis (about once every 5 years), numerous similar complaints will often trigger early exams. And when it comes to matters involving seniors, California is all over them.

Enjoy the reading!

WHAT YOU DON’T KNOW CAN HURT YOU – AVOID
EXPOSURE TO SEVERE PENALTIES

From the CA Department of Insurance -- August 19, 2011

NEWS RELEASE

Insurance Commissioner Jones Announces Sentencing of
Los Angeles Attorney for Insurance Fraud
Lawyer part of “Phantom menace” conspiracy to defraud Auto Insurance Companies

I have a friend used to work at Robinson's May and when it merged with Macy's in 2005 her Anthem Blue Cross Health Insurance was stopped because she lost benefits. The problem is that she was never notified that her health insurance was stopped. For this reason, she went in for a surgery that she had scheduled expecting her insurance to cover it. There was even a confirmation letter from the insurance that everything was on the go and that it would be covered.

WebCPA


The dangers of being "listed"
A warning for 419, 412i, Sec.79 and captive insurance

Accounting Today: October 25, 2010
By: Lance Wallach

Taxpayers who previously adopted 419, 412i, captive insurance or Section 79 plans are in
big trouble.

In recent years, the IRS has identified many of these arrangements as abusive devices to
funnel tax deductible dollars to shareholders and classified these arrangements as "listed
transactions."