Healthcare Sharing Ministries
Christian Share Plans - Considerations before you
1- Healthcare sharing ministries offering is not a fully insured product. There is no protectino or oversight from the State Insurance Department.
2- Since it is not an insured product, it is not covered under any state guarantee funds,
which promise to pay policyholders in hte case of bankruptcy of the insurance company.
3- The DOL has no oversight or regulatorty authority over Healcare Sharing Ministry plans.
4- Employers that replace their group health plan with a christian share plan can be liable from employees that enroll in a christian share plan.
5- Agents and broker E&O policy does not cover christian share plans leaving the consumer and agency exposed to undue liability.
6- There is no provider network with pre-negiotated discounts for medical services. Providers can bill the member the difference between what was billed and what was recieved at payment.
7- Reimbursement/sharing. You pay out of pocket and wait to shared funds to be sent to you. There is no guarantee, pre-approved rate or timeline on when and if you will recieve shared money.
8- Large employers will pay a penatly because Christian Share plans are not insurance
or considereing minimal essential coverage under ACA. The "play or pay" penalty is $3,000 per employee
KBenefits insurance services provide solutions for small business owners and individuals In NJ, NY, PA and FLA. Contact KBenefits today and see how we can benefit you and your company.
Thank you for referring us!
Referrals are the cornerstone of our business. Let us know if we may be of further assistance to you or someone you know. Glad to be of service.