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Health-Care Ministry Aliera Subpoenaed by New York Regulator

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New York state insurance regulators are investigating whether a religious-based group that offers a lower-cost, less regulated alternative to traditional health coverage misled customers, according to people familiar with the matter.

New York’s Department of Financial Services sent a subpoena to Aliera Companies Inc., which operates Trinity HealthShare, a nonprofit health-care sharing ministry. The health-sharing groups have grown in popularity amid the rising cost of health insurance, though often offer fewer protections and can come with significant limits. As many as 1 million people are in health-care sharing ministries, by some estimates, though reliable numbers are hard to find.