Anyone have a Christian Medshare policy?

[milkman636]

I find this post interesting as most hospitals now are allegedly non-profit but they are just as expensive as most for profit hospitals - does that mean they are less efficient or just ways to cover their income with expenses such as fat bonuses for the execs?

While the hospitals and insurance carriers may be non-profits, the vast majority of the individuals involved are for profit.

What also should not be overlooked is that non-profits can hold tax-free endowment funds to absorb excesses in funding. That’s the vehicle many of them have used to scale to the size they are today.

 

[WM75Guy]

I have worked for both for-profit and not-for-profit health systems. They both have to make a profit, or they can't stay in business. The difference is that in a for-profit system, the profit goes to the shareholders, whether publicly traded or private held shares. In a not-for-profit system the profit is put back into the business, and may be used for many things, one of which is executive compensation. Look at the not-for-profit entity's IRS Form 990. It will list the highest paid employees compensation, both regular salary and other compensation, i.e. bonus. It may shock you as to how much they are paying executives.

The other big difference, which most people don't realize, is a not-for-profit system doesn't pay any taxes, whether it be sales tax, property tax, or income tax. That accounts for additional profit that the for-profit system doesn't benefit from. They consume city services but do not financially support those services with property tax or sales tax.

The for-profit system gets to write off charity care as a business expense on their tax return. Since the not-for-profit system doesn't pay income tax, there may not be as big an emphasis on writing off bills. Some not-for profit systems are worse at hounding people for collections than for-profit systems.

An example of not-for-profit executive compensation is the Baylor Scott & White Healthcare system in Dallas, from their most recent Form 990. And this is just their first 10 listings. Yet they are not-for-profit. Three of the listings are former employees, still receiving over $1,000,000 a year.

Baylor Scott & White Health, Full Filing - Nonprofit Explorer - ProPublica

 

[two_bit_score]

An example of not-for-profit executive compensation is the Baylor Scott & White Healthcare system in Dallas, from their most recent Form 990. And this is just their first 10 listings. Yet they are not-for-profit. Three of the listings are former employees, still receiving over $1,000,000 a year.

The biggest RED FLAG, one anyway, is when someone says they have a “non-profit“.

Basically it can be a license to steal.

 

[ruffdog]

While the hospitals and insurance carriers may be non-profits, the vast majority of the individuals involved are for profit.

What also should not be overlooked is that non-profits can hold tax-free endowment funds to absorb excesses in funding. That’s the vehicle many of them have used to scale to the size they are today.

The pres of this "non-profit" was raking in $9M in 2018.

Executive Compensation at Mercyhealth (Wisconsin) 2018

 

[MattB4]

Some insurance is for profit. Some is for people. What most people have, is for profit, and they have been fooled into thinking that is best, clearly.

What amazes me is people think any insurance can afford to pay out more than people pay into it. Not only do some want to profit but the cost of simply managing an insurance (or insurance type) program means that more money must come in than is paid out in claims.

 

[tractortroof]

What amazes me is people think any insurance can afford to pay out more than people pay into it. Not only do some want to profit but the cost of simply managing an insurance (or insurance type) program means that more money must come in than is paid out in claims.

On the subject of Christian share ministries, I think the original comment was saying that these orgs are more focused on benefiting the actual members.
We pray for each other and we share each others’ needs. It is unlike anything in the insurance market. I’m sure they take advantage of any legal tax benefit.

When we send a check each month, it is addressed and written to the actual person in need. The money goes directly to the actual need.

Only one check per year goes for administrative needs, salaries etc. No paying for sex change operations or abortions either.

 

[MattB4]

On the subject of Christian share ministries, I think the original comment was saying that these orgs are more focused on benefiting the actual members.
We pray for each other and we share each others’ needs. It is unlike anything in the insurance market. I’m sure they take advantage of any legal tax benefit.

When we send a check each month, it is addressed and written to the actual person in need. The money goes directly to the actual need.

Only one check per year goes for administrative needs, salaries etc. No paying for sex change operations or abortions either.

Large potential for fraud with the arrangement. Almost a Pyramid scheme.

 

[ruffdog]

Here is a good article with replies to having the "share" ministries. It explains the fine print, requirements, and limits. Reading the replies also gives some insight into the system and if it works.

Samaritan Ministries Reviews

 

[tractortroof]

Large potential for fraud with the arrangement. Almost a Pyramid scheme.

There is always potential for fraud with men. However our Overseer is very well connected, even knowing our thoughts before we think them. Reference the New Testament story of Ananias and Saphirah.

Once a year they require a pastor to fill out a form testifying to attendance and no smoking or excessive drinking etc.

You do have to provide receipts and invoices from medical providers.

Pyramid scam it is not at all.

Again we have used it for 15 years with great results. But it’s not for everyone.

 

[MattB4]

...

Pyramid scam it is not at all.

Again we have used it for 15 years with great results. But it’s not for everyone.

It requires a willing group of people (healthy) to pay for the needs of only a few people. it is not really a healthcare plan. it is a pact between religious people that they will help each other. Better to setup your own clinics and hire your own doctors. At least than some accounting can be performed.