Sharity Ministries, formerly known as Trinity HealthShare, filed for bankruptcy and started the liquidation process in 2021, according to the report.
Christianity Today reported that the high volume of outstanding claims means it is unlikely members will receive the reimbursements they are owed.
The Atlanta-based nonprofit had faced challenges, class-action lawsuits, and cease-and-desist-orders in several states, where regulators said it had been operating as an unauthorized insurance provider, according to the report.
Healthcare sharing ministries do not have to follow regulations that apply to traditional payers, including the ACA’s consumer protections, according to New Hampshire Public Radio. Monthly premium fees are often less than traditional health insurance, but members are not guaranteed coverage for healthcare procedures.
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