February 14, 2013

Medi-Share Closer to Returning to Kentucky

Even though Medi-Share isn't an insurance product, last year at the behest of the Department of Insurance, Franklin County Circuit Judge Thomas Wingate ordered Medi-Share to stop operating in the state.

The reason stated for forcing Medi-Share to quit operating in the state was that it didn't comply with state insurance regulations.

Now the Senate Banking and Insurance Committee voted 11-0 to pass a bill which would exempt Medi-Share from the regulations because it isn't an insurance product, but operates more as a charity with money pooled together to help Christians pay medical bills.

That of course has a similarity to insurance, but it differs in that participants agree they won't drink, smoke, have sex outside of marriage, or use drugs.

This bill moves Medi-Share one step closer to being able to operate in the state again.

Approximately 800 people in the state joined Medi-Share in the past.

1 comment:

  1. To be clear, Medi-share is not an insurance program. Medi-share operates as a non-profit group and while members pay into a group fund each month, the money is never Medi-share’s money. Furthermore, Medi-share is not required to pay any bill, nor keep cash reserves on hand.REF & more info at: http://www.newsonhealthcare.com/medi-share-its-not-insurance-its-a-caring-health-ministry/