New York regulators have ordered Jericho Share to stop selling health coverage in the state after finding it operated without a license for years.
Acting Superintendent Kaitlin Asrow announced Tuesday that House of Prayer and Life, Inc., which does business as Jericho Share or Jericho Health Share, will pay a $250,000 penalty and return more than $35,000 to policyholders.
State investigators found Jericho ran an illegal insurance business in New York starting in 2021. The Department of Financial Services said the company sold products it described as health care sharing ministry plans, but those products functioned as insurance.
“Today’s settlement returns money back to impacted consumers while ensuring the stability and integrity of the insurance market,” Asrow said.
Sold without a license
New York law requires any person or company that sells insurance in the state to hold a license from DFS.
The department said Jericho never held a license to transact insurance business in New York. Despite that, the company advertised and marketed its products through insurance producers on the state and federal health insurance marketplaces.
Investigators said Jericho entered into more than 13,900 insurance contracts with New York residents and administered those health plans between 2021 and 2025.
DFS found the products did not provide comprehensive health coverage required under state and federal law. Those laws require insurers to guarantee essential medical benefits, cover pre-existing conditions, and meet strict financial reserve standards.
Avoiding insurance terms
The investigation found Jericho used disclaimers and avoided insurance-related language in its materials to try to sidestep state law.
According to DFS, Jericho’s producer training materials included a list of insurance-related terms that producers were told not to use in order to avoid fines, audits, and questions about the programs’ validity.
State law also requires licensed insurers to spend at least 82% of premiums on medical benefits. By comparison, DFS said Jericho used a much smaller share of membership fees to pay medical costs.
In 2021 and 2022, Jericho allocated 12.5% of membership fees toward medical costs, based on an actuarial assessment cited by the department. In 2023, the department found Jericho allocated 10.6% of membership fees toward consumer medical costs.
What happens next
Under the settlement, Jericho must permanently cease and desist from doing business in New York, except for actions needed to comply with the consent order.
The company must cancel all active contracts with New York members on March 19, 2026. Jericho must notify members about the cancellation and refund each New Yorker who was a member as of December 19, 2025 an amount equal to one month’s premium payment.
Jericho must also process pending and future requests for payment of medical costs tied to its final New York members and make all required payments.
DFS said more information about the payment process appears on the department’s website, along with the full consent order.
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