Will You Offer Health Ministry Plans in 2018?

[taterpeeler]

so... cancer plan maxed out pays what? 50 grand? Cancer can and has cost one of my clients 3 million from Nov. 2016 until May 2017... god rest his soul.

Recreational illness or injury? Accident plan? what maxed out at 10 grand? So, I'm playing catch with my dog and twist my ankle...Not covered... I am playing bingo and the bingo house and twist my back picking up the new tv i won... not covered.... I slice my cardary artery planting petunias in the back yard with the spay... not covered...

I live my bloody life and I'm not covered for pert near anything unless I'm sitting on the couch watching porn and eating doritos... or heck, that aint covered because its porn

 

[candice84]

Medi-Share is a VERY intense christian organization. I work with a company called Aliera they're not nearly as preachy and strict. And they use PHCS Multi-Plan so MD Anderson is in there. What I run in to in Texas is that most providers won't take ACA plans, so this is a good alternative for people.

 

[AllenChicago]

Isn't the bottom line that if you get sick or injured, lots of people send you money and hopefully you have enough to pay the bill?

Due to Obamacare, there seems to be quite a few of those that have sprung up and they vary greatly in how they handle medical claims.

I read the other day where One requires you to go to church at least once a month. And the pastor has to sign off that you attended.

 

[Dave020]

I live my bloody life and I'm not covered for pert near anything unless I'm sitting on the couch watching porn and eating doritos... or heck, that aint covered because its porn

 

[alphawave2k]

Thats where your supplements come in. Keep in mind, this is product for healthier people that are paying WAY too much for health coverage. Example, I sold a family of 4 very healthy, they were paying $2800 a month for health coverage. I set them up with a health plan for $790 a month. And an accident and critical illness supplement for $150.

Candice, everyone is interested in saving money, like getting the most for the least. Some folks decide that paying less now it's the way to go, but they have to realize they are risking having a large claim that might go unpaid. Not advocating for or against any plan....if it's good and works as advertised and saves someone money, great! The devil is always in the details for any plan out there....companies and even this Share Ministry plan hire lawyers to draw documents with minutia that the average person couldn't understand or take the time to decipher.....including most agents. Our fiduciary is to represent the plan(s) that are best for the client. If it's not insurance do you need a license to sell it, and since it's not insurance I have to believe it avoids the contractual obligations and backing of the State's Guarantee Association should it become insolvent. I'm not a lawyer, and have not stayed at any Holiday Inn Express recently :-), but I think this is probably right...so just be cognizant of this fact, and it's your choice to point that out to your client. Full disclosure it's the best policy IMHO.

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I don't know the biggest claim they have ever paid. I know just recently they paid out a $210,000 claim for someone that had a heart attack. Btw I'm new to this forum so I'm sorry if I'm not posting these properly.

You're doing fine....we're all here to learn and share with each other. I've learned a ton from this forum...many, many smart and giving folks here, and then there's the FE side (just kidding now).
But back to the contractual obligations. That's a pretty good claim size, but we've all know there are much larger claims.....not to throw a scare, but this is the reality of things. I also think "major medical" is a rip-off today for the opposite reason that you are paying for "unlimited" coverage, but what % of the population ever has to, or ever had to utilize that feature? YES, IF IT'S FAMILY OR CLOSE MEMBER OF MY FAMILY I'd want to have it...agreed. But when your monthly premiums are more than your mortgage payment, and then you have a high deductible that again rivals your mortgage payment, you're basically buying a catastrophic plan. That's OK if it were priced as such, except your premiums are for platinum coverage.

 

[candice84]

Isn't the bottom line that if you get sick or injured, lots of people send you money and hopefully you have enough to pay the bill?

Due to Obamacare, there seems to be quite a few of those that have sprung up and they vary greatly in how they handle medical claims.

I read the other day where One requires you to go to church at least once a month. And the pastor has to sign off that you attended.

Yep that would be Medi-share.

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Thats where your supplements come in. Keep in mind, this is product for healthier people that are paying WAY too much for health coverage. Example, I sold a family of 4 very healthy, they were paying $2800 a month for health coverage. I set them up with a health plan for $790 a month. And an accident and critical illness supplement for $150.

Candice, everyone is interested in saving money, like getting the most for the least. Some folks decide that paying less now it's the way to go, but they have to realize they are risking having a large claim that might go unpaid. Not advocating for or against any plan....if it's good and works as advertised and saves someone money, great! The devil is always in the details for any plan out there....companies and even this Share Ministry plan hire lawyers to draw documents with minutia that the average person couldn't understand or take the time to decipher.....including most agents. Our fiduciary is to represent the plan(s) that are best for the client. If it's not insurance do you need a license to sell it, and since it's not insurance I have to believe it avoids the contractual obligations and backing of the State's Guarantee Association should it become insolvent. I'm not a lawyer, and have not stayed at any Holiday Inn Express recently :-), but I think this is probably right...so just be cognizant of this fact, and it's your choice to point that out to your client. Full disclosure it's the best policy IMHO.

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You're doing fine....we're all here to learn and share with each other. I've learned a ton from this forum...many, many smart and giving folks here, and then there's the FE side (just kidding now).
But back to the contractual obligations. That's a pretty good claim size, but we've all know there are much larger claims.....not to throw a scare, but this is the reality of things. I also think "major medical" is a rip-off today for the opposite reason that you are paying for "unlimited" coverage, but what % of the population ever has to, or ever had to utilize that feature? YES, IF IT'S FAMILY OR CLOSE MEMBER OF MY FAMILY I'd want to have it...agreed. But when your monthly premiums are more than your mortgage payment, and then you have a high deductible that again rivals your mortgage payment, you're basically buying a catastrophic plan. That's OK if it were priced as such, except your premiums are for platinum coverage.

I totally get what you're saying, and it is important to be as transparent as possible with people. I am actually one of those nerdy agents that reads the fine print of products several times over just so I am duly informed. But as in any type of insurance product you buy...home,auto, life, health there is always some fine print with hard to understand language. That's why I'm on this site, so I can learn and grow to become an even better agent. To discover the "fine print" of things I don't know.

 

[bluemarlin08]

E and o won't cover a claim against you.

 

[johndf]

Some of the Pitfalls to Christian Sharing Models

Membership in a Christian Sharing Ministry is not insurance or a “fully insured” product, therefore there is no protection or oversight from State Insurance Departments.

Since it is not an insurance product, it is not covered by any State Insurance Guarantee Fund.

Because it is not an insurance product, and not governed by any federal regulatory agency, any complaints filed against it more than likely will go unheard or unresolved.

Since it is not “fully insured,” If claims exceed premiums, certain individual’s claims may not get paid or may be partially paid until such time as when premiums paid in exceed existing claims.

 

[STIBROKER]

I'm sitting on the couch watching porn and eating doritos... or heck, that aint covered because its porn

sorry.....your going to have to pay someone yourself to get you junk back to its original color......

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I work with a company called Aliera they're not nearly as preachy and strict. And they use PHCS Multi-Plan so MD Anderson is in there. What I run in to in Texas is that most providers won't take ACA plans, so this is a good alternative for people.

yea...right ......Aliera ain't on the list and they do not play the negotiation game....

https://www.mdanderson.org/patients...illing-financial-support/insurance-plans.html

 

[johndf]

Right now this is where the low hanging fruit is in the under 65 market so a lot of agents are gravitating toward these Christian Sharing Models. They can pack on the ancillary products and make a huge commission. Transparency and full disclosure, what''s that?