“Understand that these ARE NOT INSURANCE. “
Yet somehow some of them are approved under Obamacare as having the necessary coverage.
I never did understand that.
This is only because there are no “reserves” from which to pay.
Literally, all payments come from premiums policy holders pay directly to the person needing the help.
The Obamacare bill was NOT popular, despite the media spin, and only passed by the skin of their teeth. They HAD to make some concessions on religious groups to get the marginal vote needed to pass it. Faith-based health care sharing ministries were a bargaining chip in that legislation.
Health Care Sharing Ministries like Medi-Share are not approved under Obamacare as having the necessary coverage.
But on form 8965 (Health Coverage Exemptions), you can claim tax return exemption code D for the months you were a member of a health care sharing ministry.
https://www.irs.gov/instructions/i8965
They’re operating under the same exemption as the Amish and other religious groups that eschew insurance.