We had an earlier version where we sent our monthly payment to another member with medical bills. Different person each month for 11 months. 12th month went to the office to pay overhead.
My wife had a botched gall-bladder operation, ended up with $55,000 in medical bills. They assigned her bills to Singles, whose monthly rate was $50 back then. 6 weeks later we had received 1,100 checks from Singles, each for $50. Paid the entire bill, no problems.
Naturally, some tin-pot regulatory dictator will mess up anything that’s working and they don’t control.
Just curious, why was it assigned to singles?
Yeah, but I kind of see the other side of this.
This is insurance. Except they may not have the same legal obligation to cover your bills as real insurance normally does.
And while Medi-Share has been around for a while and seems to be a good company, whose to say that fly by night operations won’t start emulating them.
Insurance companies that would promise the moon but never pay is why they started regulating insurance in the first place.
If you allow companies to say, I’m not real insurance because I don’t collect all the premiums directly, then how do you prevent a return to all the problems that we regulated insurance for in the first place?
Now I’m not saying all insurance regulations are in the people’s interests. Clearly insurance companies use regulations to their interests too. But it sure is nice to be able to call an insurance commissioner when a large insurance is trying to welch on a promise, instead of having to hire a lawyer each time.
That is an amazing story, BN. Did they need confirmation of the surgery and the bills from the hospital? How did that work?