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.
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/
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