Medi -Share and Others Are Baffling

[MW Agent]

Regarding Medi-share, I read on a 3rd party site some the following (I would be curious to know if someone could tell me if they are inaccurate):

1. Meds covered only for 5 months after a condition is diagnosed.
2. Pre-ex conditions not treated for at least 36 months, if they come back, capped at $100,000 in coverage.
3. Cancer treatment capped at $500,000 in coverage.
4. No mental health & chem/alcohol dependency coverage.

No wonder the rates are so much better. To be completely honest, I understand why people do it. Especially if a family member gets into a more expensive chronic condition, you can always move them to major medical the following year. What a screwed up system we have now.

 

[Higru]

Regarding Medi-share, I read on a 3rd party site some the following (I would be curious to know if someone could tell me if they are inaccurate):

1. Meds covered only for 5 months after a condition is diagnosed.
2. Pre-ex conditions not treated for at least 36 months, if they come back, capped at $100,000 in coverage.
3. Cancer treatment capped at $500,000 in coverage.
4. No mental health & chem/alcohol dependency coverage.

No wonder the rates are so much better. To be completely honest, I understand why people do it. Especially if a family member gets into a more expensive chronic condition, you can always move them to major medical the following year. What a screwed up system we have now.

It would be nice if someone had an actual policy they would not mind sharing. If the above information is correct , I have never heard of these caps. I have a summary form a few years back when I looked into this and there was nothing like this. I had a customer tell me hospital claims can drag out and they had to deal with the threats of collections before the claims were paid. The hospital claims were eventually paid but they purchased a traditional plan from us.

 

[HoosierLife]

IknowlotsoffolksinthecirclesIruninthatuseSamaritansTheyallloveitbutimwaitingforsomethingmajortopopupforsrbeforeImakeImakeajudgmentcallIdoknowmanythatpayextraforNoCaps

 

[pbbaseball]

IknowlotsoffolksinthecirclesIruninthatuseSamaritansTheyallloveitbutimwaitingforsomethingmajortopopupforsrbeforeImakeImakeajudgmentcallIdoknowmanythatpayextraforNoCaps

I.......would.....use.....periods......if........my........space......bar.......was......broken....

 

[INSUREGEEK]

Space bar, or periods, I'd still never ever put my Mother into a Medi-Share type plan.

IT IS a Ponzi scheme, I don't care how many millions of $$ they claim to have committed, or how many members. You literally set up a CU account anf they move money at will.....when they will....and the cost/deductible, etc is worse than ACA.

Of course, Mother is on Medicare now, and that's a whole other box of worms.

God Bless!

 

[HoosierLife]

I.......would.....use.....periods......if........my........space......bar.......was......broken....

LOLitsIOS10SincethrupdateIfItypeAsecondwordORuseanyPuncuationTheAppCrashesIMhopingIfItypeLikeThisLongEnoughValdetORSamwillFixItORatleastAcknowledgethePROBLEM

 

[I. M. Green]

The head of DHHS said they were going to crack down on those alternative insurance plans a few months back.

Anyone who sells those plans better have a good E&O Policy in place. Who do you think they will blame when their $500k Ambulance, ER, heart surgery, facility, specialist, hospital, and rehab claims are not paid?

I see agents marketing these plans as Major Medical Coverage or as an alternative to Obamacare, all over the place, FaceBook, mailers, you name it.

These are NOT MM Policies, cheaper than ACA but can still carry a good size premium, which will keep when they close up shop.

I spoke to one agent at a carrier meeting that wrote 'many' of those policies for a fly by night insurance company. A few weeks later I happened to get a mailer from him, pushing this junk as MM, better and cheaper that Government Issued Obamacare, if you can beleive that.

The state seriously needs to make the insurance licensing test much harder and needs to keep a much closer eye on EVERYONE involved in offering these junk plans.

My two pennies

 

[kgmom219]

The head of DHHS said they were going to crack down on those alternative insurance plans a few months back.

Anyone who sells those plans better have a good E&O Policy in place. Who do you think they will blame when their $500k Ambulance, ER, heart surgery, facility, specialist, hospital, and rehab claims are not paid?

I see agents marketing these plans as Major Medical Coverage or as an alternative to Obamacare, all over the place, FaceBook, mailers, you name it.

These are NOT MM Policies, cheaper than ACA but can still carry a good size premium, which will keep when they close up shop.

I spoke to one agent at a carrier meeting that wrote 'many' of those policies for a fly by night insurance company. A few weeks later I happened to get a mailer from him, pushing this junk as MM, better and cheaper that Government Issued Obamacare, if you can beleive that.

The state seriously needs to make the insurance licensing test much harder and needs to keep a much closer eye on EVERYONE involved in offering these junk plans.

My two pennies

Its not insurance.

It has no government oversight

It is not covered under your E&O

NEXT.

 

[Higru]

not sure on this, but if the brain knows please reply. Since Medishare is not insurance, are the premiums tax deductible in any way??

 

[goillini52]

not sure on this, but if the brain knows please reply. Since Medishare is not insurance, are the premiums tax deductible in any way??

I'm knot shore what my brain nose any moore. I'm so cornfused.