St. Joseph Based Health Care Cost-Sharing Program Shut Down

ST. JOSEPH, MO –  A Missouri healthcare cost-sharing program has been shut down by the federal government for alleged fraud and money laundering.

Medical Cost Sharing Incorporated, a Christian nonprofit based in St. Joseph charges premiums to members.  In return, the charity is to cover the bulk of the costs.  Authorities say that is not happening.

Since its beginnings in 2013, Medical Cost Sharing has collected nearly $7.5 million in membership fees, however only around $246,000 has been paid toward healthcare bill sharing.  Assets of founders James McGinnis and Craig Reynolds have been seized, including their St. Joseph homes.  Criminal charges have not been filed.