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Founded in 1940, Golden Rule offers its products to individuals, public-sector employers and businesses in 42 U.S. states and the District of Columbia. Golden Rule is the creator of the Medical Savings Account, first launched in 1993, and a proponent of Health Savings Account plans. It launched HSACenter.com in 2007 to provide resources and education on HSAs and their benefits.
Golden Rule Insurance Products
Through Golden Rule, customers can purchase health savings accounts, copay health insurance, high deductible health insurance, individual health insurance, dental insurance, temporary health insurance, catastrophic health insurance, and short term health insurance. They also offer basic dental insurance, which can be used alongside their plans.
Golden Rule Consumer Complaints
Golden Rule Insurance Company is an accredited business with the Better Business Bureau. It has been accredited since June of 1985, and it currently has an A+ rating,” on the BBB’s rating scale of A+ to F. In the last three years, customers have filed 17 total complaints against Golden Rule, four of which were in the last 12 months. Of the complaints, one was related to issues with advertising or sales, three were filed in regards to billing or collection issues, and 13 involved problems with Golden Rules’ products or services.
Golden Rule currently has 76 reviews on ConsumerAffairs.com and 57 ratings. Of the 57 ratings, 52 are one star. A common problem seems to be around billing for individuals and businesses that buy their insurance directly from Golden Rule. There are reports of checks not being processed and coverage being terminated. The individuals were notified by mail after the insurance coverage was shut down. Another common complaint is the company is quick to deny a claim citing it was a pre-existing condition, therefore the claim is not covered.
Golden Rule Claims
Golden Rule customers can file claims via mail directed towards the claims department or send a fax to their dedicated claims fax line, 1-800-478-7581. There is little information on the claims process available, other than an address and fax number, which is found under the “Contact Us” tab of their website.
Golden Rule Financial Rating
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Golden Rule Overall Rating
Golden Rule has a very limited number of consumer complaints compared to most other healthcare providers that we have reviewed. They have an A+ rating with the Better Business Bureau, and only 76 reviews filed with ConsumerAffairs.com. They are smaller than other firms under their parent company, like United Healthcare, but having a low number of complaints is a good sign.
They are owned by UnitedHealth Group, which is one of the largest healthcare providers in the country. United Healthcare did not score well in our review because they ranked rather low with consumers and consumer research firms like J.D. Power and Consumer Reports. While Golden Rule and United Healthcare operate somewhat independently, there are similarities between the two firms.
Since most people are limited in their choice of healthcare providers based on where they work or what State they live in, it is important to find the best option even if none of them are the best. If you have the option, we recommend Kaiser Permanente. They repeatedly score the best in healthcare management for their patients and have our seal of approval. If they are unavailable, Golden Rule should be OK. Just make sure your premium payments are on time every month, because there are a lot of reports of them cancelling policies without warning when a payment is late.
For a list of companies that we recommend, visit our Best Insurance Companies page.