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Health Ministry Faces Crackdown From N.Y. Insurance Regulator (1)

Oct. 20, 2020, 6:34 PMUpdated: Oct. 20, 2020, 9:23 PM

New York state’s insurance regulator accused a for-profit company of illegally operating an insurance business in the guise of a health-care sharing ministry and shortchanging consumers in the process.

The Aliera Companies Inc., formerly known as Aliera Healthcare, allegedly used a series of nonprofit shell companies to evade insurance regulation while deceptively marketing and selling insurance products, the New York State Department of Financial Services said in a Tuesday notice.

One of the shell companies, Trinity HealthShare, is also named in the notice.

Health-care sharing ministries are medical cost-sharing arrangements in which members make voluntary payments to a shared ...