Hey everyone,
I’m considering getting insurance from Golden Rule. Has anyone had experience with them? What were your overall thoughts on their coverage, customer service, and claims process?
I’d love to hear your reviews before making a decision. Thanks!
I purchased a “tri-term” 3 year short term medical plan through Golden Rule last year for me and my husband. We have no health issues, so we thought it would be a good fit. It was a little more than I wanted to spend per month, but I went with a pricier plan because I thought I could swing it for the next 3 years. OK. Yesterday I get a letter in the mail saying my rate is increasing by $100/month. Hmm. When we called we were informed that the rate is not locked in. It is only a 3 year term so that you don’t have to “worry about being turned down”. WHAT? The website is incredibly misleading and in my opinion criminally misleading, and I AT NO TIME read that the rate was not applicable for 3 years. It’s akin to false advertising. BUYER BEWARE!!!
The Golden Rule is short-term insurance, which many dishonest brokers try to pass off as full-term coverage. Anticipate that roughly two thirds of claims will be rejected due to non-covered or pre-existing conditions, much like with previous short-term insurance policies. I have only sold it to new clients who needed something to get them through to the next open enrollment because they missed the previous one. Agents with integrity ought not to be pitching this to consumers who have access to actual insurance options.
GoldenRule offers *long-term (non-ACA) and *short-term, 6-month, insurance. For more than ten years, I have had a long-term GR plan for my family. However, they occasionally reject claims when they shouldn’t, their website is a complete joke (especially with regard to the odd manner they manage the billing ledger), and their customer support is mediocre at best and unhelpful at worst. They responded that they liked the website the way it was when I pointed out some of its obvious flaws.
To answer your question about why I stay with them in spite of these issues, let me start by saying that they haven’t had a claim denied in over ten years. Plus, they’re inexpensive. Our only alternative is the ACA, which is twice as expensive, because one of my family members has a pre-existing disease.
I plan to revoke this policy that I currently have. Every single claim, even the lab work I had done for my yearly physical, has been rejected by them. Because there was no diagnosis code, they rejected the lab. It was for my yearly check-up! They refused to accept it even after I resent the lab receipts and the diagnosis codes from my physical. It would be better, in my opinion, to put that money into a savings account for future medical costs. I believe that insurance is now all a hoax.