4 ms·

Not sure if this is what you’re thinking of, but https://en.m.wikipedia.org/wiki/Health_care_sharing_ministry https://en.m.wikipedia.org/wiki/Health_care_sharin

Not sure if this is what you’re thinking of, but https://en.m.wikipedia.org/wiki/Health_care_sharing_ministry https://en.m.wikipedia.org/wiki/Health_care_sharing_ministry is similar. They were grandfathered under Obamacare and are apparently legal in most states. Of course the thing is the reason the costs are cheaper than insurance is also because they don’t cover as much. Some insurance plans are incredibly expensive just because they have to spend multi-millions on a single person’s care.

rhacker 7y ago
No it definitely was not a sharing ministry. Those are not real insurance companies. This was an effort to start a real insurance company with rates that reflected a careful study of how much money is really needed to protect its population.
WkndTriathlete 7y ago
Insurance plans are incredibly expensive because not only are you paying for legitimate health-care expenses, you are also paying for: * hospital administrators to interact with insurers * insurers employees/administration * ICD9/ICD10 coding overhead * and add 10% for the maximum legal profit health insurers are allowed to make I have to think that removal of those four elements from health insurance costs would result in significantly lower health care cost outlay in the US. Routine care can be cheap. We really only need coverage for catastrophic care - broken bones, herniated disc, acute injuries, etc., etc., and routine care benefits for those so impoverished as to not be able to afford it. IMO, of course.
- SolaceQuantum 7y ago
  "Routine care can be cheap. We really only need coverage for catastrophic care - broken bones, herniated disc, acute injuries, etc., etc., and routine care benefits for those so impoverished as to not be able to afford it. IMO, of course." Where do chronic illnesses, hearing aids, HIV, diabetes, dialysis, mental health intevention and outpatient therapy, etc. fall under that paradigm?
fucking_tragedy 7y ago
One of the reasons they're so cheap is that they have no obligation to cover claims. Claim coverage is 100% up to their discretion. They aren't really insurance.

rhacker 7y ago

No it definitely was not a sharing ministry. Those are not real insurance companies. This was an effort to start a real insurance company with rates that reflected a careful study of how much money is really needed to protect its population.

WkndTriathlete 7y ago

Insurance plans are incredibly expensive because not only are you paying for legitimate health-care expenses, you are also paying for: * hospital administrators to interact with insurers * insurers employees/administration * ICD9/ICD10 coding overhead * and add 10% for the maximum legal profit health insurers are allowed to make I have to think that removal of those four elements from health insurance costs would result in significantly lower health care cost outlay in the US. Routine care can be cheap. We really only need coverage for catastrophic care - broken bones, herniated disc, acute injuries, etc., etc., and routine care benefits for those so impoverished as to not be able to afford it. IMO, of course.

SolaceQuantum 7y ago
"Routine care can be cheap. We really only need coverage for catastrophic care - broken bones, herniated disc, acute injuries, etc., etc., and routine care benefits for those so impoverished as to not be able to afford it. IMO, of course." Where do chronic illnesses, hearing aids, HIV, diabetes, dialysis, mental health intevention and outpatient therapy, etc. fall under that paradigm?

fucking_tragedy 7y ago

One of the reasons they're so cheap is that they have no obligation to cover claims. Claim coverage is 100% up to their discretion. They aren't really insurance.