OLYMPIA, Wash. — Sedera, Inc. has settled its case with Insurance Commissioner Mike Kriedler. Kreidler issued a $50,000 fine against Sedera for acting as an unauthorized insurer.
The fine must be paid by November 18, 2022. The company will also stop conducting medical cost sharing transactions in Washington, according to the terms in the order.
Kreidler’s office investigated Sedera from 2017 to 2019. Sedera, marketing itself as a medical cost sharing community, sold memberships to Washington consumers with a monthly fee. Members agreed to guidelines that determined their…