Two Minnesotans, identified in state documents as R.W. and M.W., reported paying more than $7,000 to Strategic Limited Partners before canceling because of the company’s failure to pay claims. Neither was aware the business made them employees or limited partners.
Another customer, identified as M.T., said Strategic paid less than $2,000 of her $40,000 in medical bills over a six-month period. Purchasers of the plans said only a small portion of claims were paid, and they faced delays or being sent to collections.
“This is a cautionary tale,” said Jacqueline Olson, an assistant commissioner of enforcement for the Minnesota Department of Commerce.
“As open enrollment begins, Minnesotans should be extremely careful when selecting health coverage,” she said in a statement. “If it sounds too good to be true, or if the company isn’t licensed in Minnesota, that’s a red flag.”
Insurance regulators in other states have taken actions to limit Strategic Limited Partners from selling insurance.
Last year Wisconsin issued a cease-and-desist order to Strategic Limited Partners for selling unauthorized insurance. And New Hampshire state regulators banned Strategic Limited Partners from marketing its services effective in December.
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