Take today, for example. Now that the company-subsidized portion of my COBRA is coming to an end, I decided to start looking into some (hopefully) less expensive individual health insurance. So, I did a Google search on individual health insurance, and looked for some quotes via the websites listed on QuoteMonster. I filled out a bit of basic info, and the immediate results returned were for GHI, at pretty much the same amount I would be paying for my current COBRA coverage. A bit disappointing, but reassuring also, to know that my current coverage cost isn't totally out of the norm.
Then, I received a call from Deborah, from IAB, also known as International Association of Benefits. She informed me that I would be pre-approved for a group member benefits, for anywhere between $109.50-$169.50 per month, depending on which plan I chose. According to Deborah, the plans provide healthcare, hospital, prescription and dental benefits, as well as alternative benefits, such as vitamins/nutritional supplements, cosmetic, and gastric bypass. Additional benefits included travel coverage and an accidental death and dismemberment benefit.
By the time Deborah and I finished our conversation, I was pretty much ready to sign up. However, because I tend to be a bit "anal" about checking things out before entrusting my financial and physical well-being (not to mention my credit card) to a complete stranger, I asked her if there was something in print that she could send me in the mail to look at. She told me that the company doesn't send out anything in hard copy (red flag #1), but directed me to their website to review the benefit plan information. I let her know that I needed a few days to reach a decision, took down her name and phone number, and proceeded to the company's website.
I reviewed the listings for each of their "Benefit Plans", the Elite, the Premier Plus, and the Premier. At first glance, they each looked okay. For example, the Elite plan listed benefits such as:
- Healthcare Benefits
- Hospitals and Medical Facilities
- Physicians
- ICU/CCU Benefit
- Dental Care Plan
- Dental Network
- Insured Dental Plan ( Benefits: $1,000 per person per year)
- Chiropractic Benefits
- Mail Order Hearing Aids
- Beltone Hearing Aids
- Vision Care Plan
- Mail Order Contacts
- Mail Order Prescription Plan
- Neighborhood Pharmacy - Prescriptions
- Vitamins and Nutritional Supplements
- Medical Records Service
- Travel Assistance
- Accidental Death and Dismemberment Insurance
- Accident Medical Coverage - $5,000
- Emergency Rescue
- 24 Hour Nurse Line
- Emergency Roadside Assistance
- Financial Help Line
- Legal Club Benefits
- Car Rental
- Golf
- Hotel
- Theme & Amusement Park
- Concierge Service
- DHL Express
So, I decided to do some additional independent research. Back to Google, only this time, I search for "International Association of Benefits". And boy, did I get results! Lots of results. I got results for Better Business Bureau alerts. I got results for suits filed by the Texas Attorney General and Illinois Attorney General. I got results for news stories like this one from Fox 31 in Denver, and this one. I also got results for several IAB Associates, like this one, and an associate recruiting ad.
Bottom line, International Association of Benefits is not health insurance. It's a health discount program with a shady reputation, at best. Check with your health and dental providers to see if they accept Galaxy and Careington, the plans listed on IAB's site, or any other health discount card plan before switching, even if they're listed in the plan's provider list.
Somehow, I don't think I'll be calling Deborah back anytime soon.
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