Health care sharing ministries advertise reimbursements for members’ medical bills. But they are largely unregulated, and most have restrictions on maternity coverage.
How the hell does Sedera (the “health group”) they were using even afford to pay anything out?
Correct my math if I’m wrong, but using their data, call it 35000 paying members. The family in question paid about 150 a month. Let’s be generous and say 200 per month for each member. That equals 84 million a year of revenue. Taking no other expenses out for running Sedera, that allows each member to only receive 2400 a year in reimbursement. Most of these members are probably families. They also have to pay a deductible, just like regular insurance. So what the hell would Sedera even be able to afford to cover for their “members”?
Religious organizations really know how to grift, don’t they.
How the hell does Sedera (the “health group”) they were using even afford to pay anything out?
Correct my math if I’m wrong, but using their data, call it 35000 paying members. The family in question paid about 150 a month. Let’s be generous and say 200 per month for each member. That equals 84 million a year of revenue. Taking no other expenses out for running Sedera, that allows each member to only receive 2400 a year in reimbursement. Most of these members are probably families. They also have to pay a deductible, just like regular insurance. So what the hell would Sedera even be able to afford to cover for their “members”?
Religious organizations really know how to grift, don’t they.
That assumes everyone is filing claims. Insurance companies gamble on you not filing claims.
Or denying your claims until you stop trying.