Medi-share is basically a voluntary insurance group where people are screened (usually via a church) to be eligible to join. Once accepted, you agree to send checks to people who post their medical bills.
Seems like something a platform built on bitcoin could really help with. Trustless money used for essentially trustful insurance groups. You have vetted the people involved, but the process of sending checks to help people pay their bills is so slow and prone to problems. A platform could allow for the recipients to setup a lightning invoice and the other participates could send them whatever their monthly requirement is instantly.
Obviously there are details I’m not covering. Like one big one would be how people get their sats out in fiat to pay their bills, and what are the regulations around that (would it count as income?! and so have to be taxed?).
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Can you (or anyone else) speak to the quality of this? If you're fairly healthy and don't need to visit the doc that much, is this useful/cost effective? I've heard a little bit about it.. Sounds like a great way to cut out the insurance industry.
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