Politico AUSTIN, Texas — Bitcoin is on the cusp of becoming a widely used financial instrument for individuals and companies.
But the virtual currency is not listed in any of the most popular insurance plans in the United States, according to data obtained by Politico.
The data, obtained by the news site via a Freedom of Information Act request, shows that the vast majority of insurance plans do not list bitcoin or other cryptocurrencies on their policies, with more than 80 percent of plans stating they do not offer any bitcoin coverage.
“This data is a bit disappointing,” said Joe DeFelice, vice president of research at Avalere Health.
We are seeing the emergence of this new financial asset that has no central bank or central regulation that would prohibit its use, he added.
Bitcoin was created by a team of computer scientists working for a computer company called Satoshi Nakamoto, according a biography of the company on the company’s website.
The company is still operating, and bitcoin trading is currently legal in the U.S. as of May 23.
The company was founded by two former Microsoft employees and a former Google employee named Peter Vessenes, according the company.
Vessens told The Wall Street Journal that bitcoin is a decentralized, peer-to-peer, computer protocol that is “not controlled by any single entity or central authority.”
Avalere, a company that specializes in health care information technology, does not offer health insurance plans with bitcoin, but the data shows that more than 90 percent of the plans in its database do not mention bitcoin.
The lack of coverage has made it harder for bitcoin users to purchase insurance.
A recent study found that one-third of people who are insured through their employer are now using bitcoin, according data from the American Association of Retired Persons.
It also found that the share of Americans who are covered by employer-sponsored health insurance has risen since 2011.
Bitcoin users often complain about high premiums.
Insurance companies charge premiums of between 10 and 15 percent, according HealthPocket, a website that offers information about how to compare health insurance policies.
“If you’re getting a $50,000 insurance policy, that’s about $100,000 in total costs, and your premiums are $10,000, so the total cost per month is $30,000,” said Jason Schreiber, CEO of HealthPocket.
“There’s no reason to have a $1,000 deductible on a $100 deductible policy,” he added, explaining that people would need to pay out of pocket to avoid the $10 deductible.
The vast majority insurance plans offer a small or no out-of-pocket limit, while most provide no limit on the maximum out- of-pocket amount.
Some, like HealthNet, provide limits on how much money you can spend each month, but that’s usually for a short period of time, like six months.
Insurance companies also require people to take steps to prevent the use of the technology.
In September, the Trump administration announced it was ending a rule that required companies with more a than 500 employees to report the location of their employees’ bitcoin wallets.
The rule was aimed at helping those companies comply with federal anti-money laundering laws.
However, it could mean less coverage for bitcoin.
According to Avalere, about two-thirds of its customers don’t have plans with a bitcoin wallet.
According to the insurance data, the vast vast majority, 90 percent, of plans in this study have no bitcoin coverage, while the remaining 20 percent have a coverage that includes bitcoin or some other cryptocurrency.
Avaliere Health did not respond to requests for comment on the data.
The Associated Press contributed to this report.