Our company decided to go with this insurance in June. After months of paying premiums and the employee's did not receive medical cards, we attempted to cancel the policy. We set up this policy through a man named Pat Murphy.
Our file was submitted to a third party administrator (Claims and Benefit Management) from Pat Murphy. We sent original cancel notices to Claims and Benefit Management on 9/24/08. On 9/25/08 they withdrew the premiums from our business account.in mid October the 3rd party administrator (Claims and Benefit Management) "forwarded/sold/rolled over" our file to another 3rd party administrator (RBASDS) and changed our file to show a start date of 11/1/08. This next third party administrator, RBASDS, withdrew premiums on 10/31/08. RBASDS has since attempted to withdraw premiums from the account (that we had to close to stop the withdraws) in November and December.
I have contacted both of these companies, and even talked to the VP of RBASDS (who's name, telephone and extension number I can give to anyone interested), who refused to talk to me and who said to me "We do not buy and sell insurance policies", which is a crock. You know what I mean.
I have spent time reporting this here, but I have been informed by our health insurance rep (who is legal and trustworthy) that we have now to also report them to the Texas Department of Insurance.
If you have a similar situation to this one, my advice is to report ALL affiliated parties with your state Department of Insurance. This is fraudulent activity that is happening every day. Our economic situation in this country is unstable at this time, and for these "professional scum lords" to even be earning anything that this economy has to offer right now is pathetic.
I plan to keep this updated as to what is happening with this case. If I get positive results from how I will pursue this to get our money back, I will post that as well.
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