Small business people get $100 million in refunds as FTC action challenges Benefytt Technologies’ fake health plans

Finding health insurance can be a challenge for many Americans, including gig workers, the self-employed, and those in small businesses.So when consumers were looking for health insurance under the Affordable Care Act, a plan sold by a company called Benefytt Technologies seemed like a logical choice — except that, according to the FTC, Benefytt sold it to hundreds of thousands of consumers insurance no comprehensive health insurance, no Being ACA eligible often leaves them unprotected in medical crises. But there’s finally some good news for Benefytt customers. They will receive nearly $100 million in refunds as a result of the settlement of the FTC enforcement action.

In addition to financial remedies, the FTC settlement prohibits the company from making false representations about its products or charging illegal junk fees. Another order prohibits Benefytt’s chief executive from selling or marketing any health care-related products. The company’s former vice president of sales was subject to the same ban and was also barred from telemarketing. How long will these bans last? forever.

If you are one of the 463,629 consumers who will receive a check, please cash it within 90 days. If you have questions, please contact Epiq Systems, the refund administrator, at 888-574-3126, or view the FTC’s Frequently Asked Questions about the refund program for more information.

By the way, the FTC has never — let’s say it again: no way – Requiring people to pay money or provide account information to get a refund. If someone claims to be from the FTC and asks for money or your account details, it’s a scam.

In combating deceptive and unfair practices, the FTC’s mission is to protect all consumers, including small business owners, gig workers, freelancers and others who are targeted by marketers who do not tell the truth. Further evidence of this commitment: the just-announced settlements totaling $59 million with Womply and Biz2Credit for making misleading claims to small business owners regarding PPP loans, and recent revisions to the FTC’s telemarketing sales rules to cover businesses Misrepresentations in Telemarketing.