Industry leaders oppose regulation as sham ministries go belly-up.
Medical Cost Sharing (MCS) promised donors it would cover their medical bills while its two owners turned the nonprofit ministry into a piggy bank.
Aliera, a now-defunct health share company founded by a man who served time in prison for fraud and perjury, has itself been found guilty of fraud in a federal class action suit.
Sharity Ministries will continue to operate during bankruptcy
Oliver suggested consumers are confused by health share ministries, which are not insurance, but are often sold as if they are. But Fenwick says, “The person who sued didn’t understand the nature of the program ...