Medical Savings Insurance Company

Oct 11, 2007

  1. wookie
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    wookie New Member

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    Does anyone have experience with this company?
    I received a letter/postcard from them today. They advertise very low HSA prices and few details. Their broker contract is available online.
     
    Last edited by a moderator: Oct 11, 2007
    wookie, Oct 11, 2007
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  2. wookie
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    wookie New Member

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    hmmm, not the hottest subject on the board today, surprise, surprise. So, let me tell everything I know first.

    I received a big postcard from Medical Savings Insurance Company of Indianapolis. They took the time to show price comparisons of their HSA versus United Healthcare and Blue Cross in zip codes near me. Their rates are way lower.

    I checked out their web site. It looks like they do business in 50 states. It has a good powerpoint type presentation regarding their products. It all looks good at first glance.
     
    Last edited: Oct 12, 2007
    wookie, Oct 12, 2007
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  3. moonlightandmargaritas
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    moonlightandmargaritas Guru

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    Here's maybe a reason their rates are lower.

    They've been sued by multiple hospital providers here in Florida. No PPO network - all paid on usual and customary.

    Problem is...hospital bills say $1,100 per day. Medical Savings Ins. Co. decides that's not reasonable...they'll pay $600 per day. Guess who's stuck with the balance? That's right, your less than happy client. Most hospitals/providers here are demanding pre-payment when dealing with this company.

    Try googling it, I'm sure you'll find the info on the lawsuits. Last I knew they were "B" rated also.

    I would shy away.

     
  4. CHUMPS FROM OXFORD
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    CHUMPS FROM OXFORD Guru

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    I was wondering why they don't use Networks. I guess that's why.
     
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