Wednesday, March 11, 2020

Truth in Advertising

Got a LinkedIn invite recently from a gentleman (whose identity I've redacted) asking to be added to my network:

"Hi Henry,

I’m looking to grow my community with leaders that are interested in giving their members a better healthcare experience. If you think your members deserve more while paying less, then we should connect and chat. (Don’t worry, I’m not selling health insurance!)


It's that last bit that caught my eye:

"Don’t worry, I’m not selling health insurance!"


Well, because he's a regional poobah for Sedera Health.

And what is Sedera health, you ask?

Well, it's a "cost sharing community" ('community' now being the more politically correct version of 'ministry,' one supposes) to which one may subscribe. As we've noted in the past, these sharing ministries/communities/whatever are ACA-compliant, and generally much less expensive than ObamaPlans (particularly for folks who don't qualify for a subsidy or cost-sharing).

What they are not, however, and as my would-be associate notes, is insurance. That's because "Members agree to share one-another’s medical expenses through an act of voluntary giving." That's very different from a government-regulated (and enforced) insurance contract.

Which is not to absolve the carriers of their various and sundry shenanigans, oft-reported here at IB. But in those cases, there are avenues of redress: arbitration, litigation, and even criminal prosecution.

Not so with these plans.

Does that make them evil (or carcinogenic, or fattening)?

Of course not!

But certainly food for thought if one is considering signing up.
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