Health insurance

WTP-GC wrote:

winnietrey wrote:


You sound young, having a kid or a broken leg, is nothing, and for you, at this time in your life, cost sharing may be a great deal. But at my age when the costs can run into the many hundred of thousands, for cancer etc it would not be. ( and why I would not want my care subject to a non regulated entity) And why I would suggest folks read the fine print.

I initially wondered about how truly major medical events (cancer, cardiac, transplants, etc.) would be handled. As an admittedly healthy young buck, I don't worry too much about these things. But every monthly newsletter contains testimonials actual participants sharing their stories on just that...truly major events. Even for them, the system is working. There are others who came into the program with non-covered pre-existing conditions, and they share their stories of how members chip in a little extra to help cover those needs too.

It would be a little unfair for me to say that this is the only program I particpate in. We've seen a number of "concierge" type service providers pop up in our area. So we do pay a modest monthly fee for us and our children to participate in those programs too. I highly encourage folks to look into those programs. They can be very affordable, provide excellent care, and be far more personal.

Testimonials are not worth the paper (or the digital ink) they are printed on. I could put together entirely true testimonials from people who will tell you the best way to plan for retirement is to buy a winning lottery ticket. Trouble is, it leaves out all the people who buy losing lottery tickets.
I don't doubt that your plan (or Medi Share, or any other similar plan) is currently paying claims. But what happens if they get into financial trouble and stop paying all or part of the claims? True insurance plans have re-insurance spread across the insurance market through companies with hundreds of billions of assets. They are also regulated and backed by state governments. Your valid claims are going to be paid. Nothing similar backs the Medi Share type programs.
As a previous poster pointed out, the fine print in these cost sharing programs are scary. Mandatory arbitration with their in house arbitrator, behavior clauses, and certain exclusions make these type of plans untenable to me. What I also don't like is the fact that certain of these plans sell themselves as substitution for actual insurance, wrap it up in religious mumbo jumbo, and then relegate the differences and deficiencies to the fine print.