Getting Reinsured After The Bankruptcy of Sharity Ministries

Getting Reinsured After The Bankruptcy of Sharity Ministries

Sharity Ministries, a non-profit company providing cost-sharing health insurance in New Hampshire, filed for bankruptcy and halted operations last month. Unfortunately, the company’s demise left individuals without health insurance, leaving them vulnerable to unaffordable medical costs.

Sharity Ministries provided a unique health insurance product. With its cost-sharing format, clients would buy into the program at a rate that’s typically far lower than that of regular health insurance. However, buying into the program came with no legal guarantee that Sharity Ministries would cover the cost of medical expenses.

Sharity Ministries Bankruptcy

Legal Action Against Sharity Ministries

Since 2019, Sharity Ministries had been implicated in legal action from the New Hampshire Insurance Department. In 2019, New Hampshire state regulators filed a Cease and Desist Order against Sharity after discovering that the company was deceiving its clients and providing healthcare insurance without obtaining the required certifications. This and other state investigations revealed problems with the organization, eventually leading it to file Chapter 11 protection.

Sharity Ministries’ website was updated soon after the filing, stating that the company would no longer provide health insurance services to its customers. The New Hampshire Insurance Department has stated that despite the organization’s bankruptcy filing, ongoing regulatory action against it will continue.

Health Insurance For Past Clients of Sharity Ministries

Many customers that were covered by Sharity Ministries have been left with lofty medical bills and no healthcare coverage for future expenses. Florida Healthcare Insurance has already written policies for some former Sharity Ministries clients, ensuring that these individuals have financial protection for future medical costs.

Florida Healthcare Insurance provides Medicare, dental, short-term, vision, and life insurance coverage, as well as supplemental plans. We have an experienced, qualified team of health insurance professionals to ensure that you receive the right policy for your needs. In light of the bankruptcy of Sharity Ministries, we’re available to quickly and efficiently write healthcare policies to cover former clients. While one of the main draws of Sharity Ministries was affordability, Florida Healthcare Insurance offers cost-effective health insurance plans to suit any budget.

We’re confident that past clients of Sharity Ministries will be satisfied with Florida Healthcare Insurance’s comprehensive policies. While experiencing a sudden loss of health insurance can be stressful, our skilled team is here to help you navigate the process and secure reliable health coverage.

If you were insured by Sharity Ministries, contact Florida Healthcare Insurance at (800) 946-3157 to find a health insurance policy that fits your needs.

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