By Dave Tschantz, Vice President & General Counsel
*Editor’s note: This information was published in the April 2022 issue of Heartfelt Magazine, CHM’s monthly magazine that provides CHM membership-related tips and tricks, medical advice from doctors, testimonies from CHM members, and more. Please refer to the CHM Guidelines and applicable web pages for the most up-to-date information regarding CHM membership, sharing eligibility, and ministry news.*
Last month I discussed Standard No. 13(h) and 13(i) of CHM’s nine board-level standards. Standard No. 13(h): The board shall maintain appropriate communication with the independent certified public accountant on an on-ongoing basis to ensure proper financial management. Standard No. 13(i): The board shall require its management team to disclose to the board any material weaknesses in internal controls or other significant risks or management deficiencies.
This article discusses the 14th and final standard that applies to our ministry. Standard No. 14 reads: Comply with the following operational requirements:
The Ministry does not operate as an insurance company nor is it affiliated with any insurance company; and its ministries are not offered to anyone through insurance agents.
The Ministry, in its advertising:
- will avoid using terminology typically associated with insurance;
- if it refers to “savings,” it will expressly reference the non-insurance entity to which the comparison is being made for the claimed savings; and
- if it references past amounts shared with members, it will only reference amounts that are supported by the Ministry’s annual statement and will include with that reference (1) a reminder that the Ministry has no contract with its members, and (2) a disclaimer that past performance is not a guarantee that any future needs will be shared.
CHM has a long history of sharing members’ medical bills, and this standard safeguards CHM’s purpose by making sure that members and non-members alike understand that CHM isn’t insurance, and that the ministry avoids saying or doing anything that would give them any other impression.
Editor’s note: For your convenience, members are able to view financial reports and audit reports by requesting them from CHM using the “Contact Us” page.
