Thursday, January 31, 2008

Bailing Out

Matt Grieser runs a construction business. Aubrey has a graphic-design degree and stays home with their three boys, overseeing the home schooling of the eldest.

They have a new puppy, a $1,250 monthly mortgage and no health insurance.

No health insurance. Where have I heard this before?

So what did they decide to do?

the Griesers believe they have finally found a program that appears to be affordable and could help them keep their home if a medical disaster strikes — Christian Care Medi-Share.

Medi-Share is not insurance, but rather a Christian, sharing plan where members pledge to make donations to help cover the cost of medical bills incurred by other members. Kind of like a health co-op.

So what does Medi-Share pay?

Medi-Share is supposed to pick up everything — after a $911 deductible per person

Operative word here is "supposed" to pay.

Your bills may be paid in full, or they may not.

Therein lies the problem.

What do you tell your doc if they want to schedule you for a major procedure? "Well Doc, this plan is SUPPOSED to pay everything, but there are no guarantees."

And what about the hospital?

Same offer.

Wonder how many providers are willing to go ahead without a financial guarantee?

And then there is this . . .

Last year Medi-Share took in about $60 million and paid out $46 million, Baldwin said, with the rest going to administrative expenses.

Sounds like a lot for administrative expenses.

And there is more.

The fund will not cover non-Christians or smokers, and it turns away overweight people who fail to meet weight-loss goals in 12 months.

Sounds like Medi-Share isn't perfect either.
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