HuffPo: John Oliver Exposes One Of America’s Worst Ideas By Creating A 100% Legal Scam

[China]

John Oliver Exposes One Of America’s Worst Ideas By Creating A 100% Legal Scam

 

John Oliver on Sunday night took a deep dive into the world of health care sharing ministries (HCSM), the faith-based schemes that might resemble health insurance, but aren’t actually health insurance. And many participants find out only after it’s too late.

 

The “Last Week Tonight” host told the story of one family whose child had a brain tumor removed and was stuck with a $325,000 bill that was not covered by their HCSM.

 

“Holy ****,” Oliver said in disbelief, calling it “exactly the kind of immoral behavior I’d expect sharing ministries to classify as ‘****ing disqualifying.’”  

 

The company eventually paid after the story received media coverage. 

 

“It shows just how little recourse you have,” Oliver said. “If you don’t have a child that you can get onto TV to shame the company into action, you could be **** out of luck.”  

 

Oliver said he understands why people sign up for HCSMs.

 

“I do get the appeal of lower-cost health insurance,” Oliver said. “The problem is, this isn’t that. It’s not insurance at all, and states need at the very least to pass laws to make sure that people know what they’re getting into with HCSMs and to force them to allocate funds properly.” 

 

But some states, he said, were doing just the opposite. For example, Florida has lowered the bar so much that just about anyone can create an HCSM. 

 

 

Click on the link for the rest

[PleaseBlitz]

I pretty much assume that any organization with the words "freedom," "liberty," or "patriot" in its name is a scam.  

[China]

4 hours ago, PleaseBlitz said:

I pretty much assume that any organization with the words "freedom," "liberty," or "patriot" in its name is a scam.  

 

True.

 

[Ball Security]

It’s a good segment.  I listen to some personal finance podcasts that push these.  I don’t think I’d have any idea about them if not for that.  I’m all for a good scam though.

[Kosher Ham]

Those are the same folks who tell you that you are going to hell. 

[LadySkinsFan]

As an atheist, I think all religions and associated organizations are scams. 

[PokerPacker]

3 hours ago, China said:

 

True.

 

[The Sisko]

8 hours ago, PleaseBlitz said:

I pretty much assume that any organization with the words "freedom," "liberty," or "patriot" in its name is a scam.  

You’re not a real ‘Muricun then. Humble yourself to Q and ask for his forgiveness and perhaps you can be a real, “freedom” loving ‘Muricun. Stop hating “freedom”. Just stop.

[Bang]

These churches need to be broken up, raided and the thieves running them thrown in jail. 

And if other churches / religions had the morality or belief in what they preach, they should lead the charge in eradicating evil like this.

LOUDLY. More than denouncing them, turn them out, expose them and destroy them. Flex that Muscle of the Lord. Their time for silently ignoring/ and allowing this sort of thing in the name of their God needs to END and RIGHT NOW

 

~Bang

[Ball Security]

What gets me is that if you belong to one, you get exempted from the ACA penalty.  This isn’t health insurance.  It’s more like an organized, exclusive gofundme.

[PokerPacker]

Just now, Ball Security said:

What gets me is that if you belong to one, you get exempted from the ACA penalty.  This isn’t health insurance.  It’s more like an organized, exclusive gofundme.

ACA penalty hasn't been a thing for a few years.

[Ball Security]

2 minutes ago, PokerPacker said:

ACA penalty hasn't been a thing for a few years.

You’re right, but pre-2019 you could have this and not pay the penalty.  Also some states such as CA still mandate that you have coverage.

[Corcaigh]

Medishare is a response to how ****ed up the US healthcare insurance market is.

 

People pool funds to help cover each other’s medical costs. They take on risk because they struggle to afford insurance and that may expose them to a fraud.

 

Participants will be exposed if the scheme administrators are dishonest or deny coverage (and that occurs in medical insurance too), but in some respects they are similar to big insurance companies who have a clear incentive to make money on denying legitimate claims. I suppose one key difference is that you are ‘protected’ with a regulated medical insurance scheme in that you can attempt to sue a multi-billon dollar corporation over many years while dealing with a life-threatening illness.

 

But yes, it does provide a method for scam artists.

 

 

 

Edited June 29, 2021 by Corcaigh

[PokerPacker]

14 minutes ago, Corcaigh said:

Medishare is a response to how ****ed up the US healthcare insurance market is.

 

People pool funds to help cover each other’s medical

costs. They can be exposed if the scheme administrators are dishonest or deny coverage, but in some respects they are similar to big insurance companies who make money on denying legitimate claims.

Seems like they're selling themselves as the Credit Union equivalent to Health Insurance, but in reality they're just thieves.

[Corcaigh]

3 minutes ago, PokerPacker said:

Seems like they're selling themselves as the Credit Union equivalent to Health Insurance, but in reality they're just thieves.

HCSMs provide an opportunity for thieves for sure. But my understanding is that there have been quite a few that have operated for years and behaved. Even with entirely ethical

management there is the risk that they can’t cover very expensive treatments and because of lack of regulation people won’t know what their coverage limits are until they come up against them.

[PleaseBlitz]

34 minutes ago, PokerPacker said:

Seems like they're selling themselves as the Credit Union equivalent to Health Insurance, but in reality they're just thieves.

 

Credit Unions are fairly heavily regulated, except for who they can add as members.  

 

HCSMs just scam people into giving them their money and they just keep it (as all scams do). 

[Old Bay]

I'm in a HCSM currently and have been for about 6 years or so.  I'm looking to get out of it cause it doesn't really fit with what I want to have for coverage of my family.  We are with Samaritans, and my experience with them has been positive overall.  I'm not sure that his piece was completely fair to them, but I'm only one person.  There is a cap for basic at $250,000 but you can also enroll in an add on plan that means you pay a bit extra per month to have no cap.  The problem with some of that is with proration if there is an overly stressful month with too many people sending in needs.  Also, you send the organization itself money once a year as the admin fee and then the rest you send to whoever the share is designated for. 

[Old Bay]

2 hours ago, Ball Security said:

What gets me is that if you belong to one, you get exempted from the ACA penalty.  This isn’t health insurance.  It’s more like an organized, exclusive gofundme.

 

That was one of the reasons I originally joined.  It was cheaper than insurance options and the ACA penalty.