Thursday, November 30, 2017

Thursday LinkFest

■ Remember this: "If you like your doctor (or hospital), you can keep your doctor (or hospital)?"

Too bad, so sad. As FoIB Jeff M alerts us:

"[R]estructuring lawyers are now warning that the healthcare industry is about to experience a massive wave of hospital bankruptcies."

Of course,this isn't entirely unexpected: while insurance rates have skyrocketed, that trend hasn't translated to increased provider revenue. In fact, "[h]ealth-care bankruptcy filings have more than tripled this year."

■ Another FoIB, NDH, tips us to this helpful video explaining the Health Care Sharing Ministry model:

How Does MediShare Work?

■ And speaking of health care sharing ministries: I long ago opted to take a pass on selling them because:

"I'm an insurance agent, and I hold myself out (semi-)professionally as such. So if I sell a Medishare plan, which is specifically not insurance, I'd be concerned about an E&O claim in-the-making."

And lo-and-behold, today's email holds this warning from ARN:

"Recent solicitations from Risk Sharing Groups have caused concerns among Life Insurance Agents.   Consider a few key points when evaluating an Errors & Omissions Policy"

I had had no idea such programs existed. Apparently, they're available for agents who don't want to pay for legit Errors and Omissions coverage. The plans appear to be modeled on the health care sharing ministries, and are therefore not insurance, so there's some questions about whether any claims will actually be paid.

And there's this, which seems to be a show-stopper:

"In a Risk Sharing Plan the right to reimbursement only occurs once the wrongful act(s) have been entered in court and all appeals have been settled.  This could take years."

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