Washington State Insurance Commissioner Mike Kreidler issued a statement Thursday saying a Utah-based shared cost insurance company has been banned from selling in WA and has been fined.

  Utah-based Zion hit with a $50K fine

Zion is the nation's 4th largest shared-cost insurance company, or as known in the industry as a HealthShare plan.  You are probably familiar with Medi-Share, which is believed to be the largest in the US with 260K members. Zion is similar, but smaller with 50K.  Most of these types of companies are faith-based.  Members do pay a joining premium, usually based on what they can afford or income.

These plans allow members' insurance costs to be shared by other members.

Kreidler said Zion was not allowed to sell insurance in WA state, did not offer coverage for certain pre-existing conditions, and did not offer abortion coverage. According to the Insurance Commissioner's Office, a cease-and-desist order to Zion was issued in February 2022, with the final order signed in December.

His office also issued a $50K fine in the matter. Insurance companies have to receive state approval before they can offer coverage to residents of WA state.


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