Medi-Share for Medicare Supplement

[Zeviax]

Anyone familiar with the MediShare 65+ program? I'm trying to get info on how they compare with standardized Medigap plans but not having much luck. Any thoughts from this forum would be greatly appreciated.

Here is their website: [EXTERNAL LINK] - Medi-Share 65+

 

[straightnochaser]

faith-based "healthcare".. It's not insurance and I personally wouldn't offer it

"Medi-Share is not insurance. It is a not-for-profit ministry and the availability of funds is not guaranteed. Sharing in medical bills is voluntary and you are always personally responsible for the payment of your own medical bills in the absence of sharing."

 

[rmhaire]

They don't compare to standardized medicare.

They are not considered insurance and not regulated by medicare nor your state insurance dept.

 

[StephanieCJ]

I don't know if their coverage is sufficient or not. What I do know is that if they were to go under, your client would have to either pass health underwriting to go to a supplement or wait for an enrollment period to do an advantage plan. The possibility of leaving someone without coverage (which their reps will paint as being highly improbable) made me decline to offer this option. That is in addition to what everyone said above about them not being regulated because they are not insurance. They may be a great company, but I'm not inclined to put clients into unpredictable situations.

 

[Ron Van D]

I used CHM for years prior to turning 65. I chose to go with a medigap as opposed to CHM. The cost was similar, but the idea of filing my own claims, trying to explain to doctors how it worked, and negotiating for discounts was not appealling to me when I could have it all handled smoothly by my medigap carrier.

 

[rmhaire]

I used CHM for years prior to turning 65. I chose to go with a medigap as opposed to CHM. The cost was similar, but the idea of filing my own claims, trying to explain to doctors how it worked, and negotiating for discounts was not appealling to me when I could have it all handled smoothly by my medigap carrier.

Agents that are considering offering this to clients should consider two things:

What happens if your client is admitted to the hospital under the dreaded Under Observation rule?

And 2nd, since this is not considered insurance, how is your E&O going to respond when a claim is filed?

I could keep going but this is enough for me.

 

[billyb]

I sold 2 policies to a couple who were unhappy with their MAPD. They were not eligible for a MS because of health issues. They went back to another MAPD this year.

 

[yorkriver1]

I sold 2 policies to a couple who were unhappy with their MAPD. They were not eligible for a MS because of health issues. They went back to another MAPD this year.

Wouldn't they also now have a one year or whatever the mandatory 63 days woud subtract for the penalty for no creditable drug coverage? Not that it's a huge amount, but would be permanent, unless they kept their drug plan while on the sharing for Medicare A/B.