As the costs of traditional healthcare insurance continue to rise, many are desperately searching for more affordable ways to cover the costs of their medical bills. For those of the Christian faith, cost-sharing plans within their ministries can be a viable option. But what is a Christian Healthshare Ministry? And what are the pros and cons of using one? Here we will discover the differences, the similarities, and whether this type of medical cost sharing option is right for you.
Christian Healthshare Ministries are a form of Christian Cost Sharing
Cost-sharing healthcare plans, also referred to as health-shares, are a form of cooperative. They are commonly faith-based and tied to a certain religious ministry. Each member of the health-share ministry agrees to cover a certain amount of each other’s medical costs in order to lower all of their out of pocket costs. The general premise of a health-share plan is a lot like insurance, although it is important to note that they are not traditional health insurance. Unlike a traditional health insurance company, cost-sharing plans do not guarantee coverage, and the assistance they provide depends heavily on whether the member’s medical needs fall within the tenants of the faith. Cost sharing programs are not regulated by any governmental agency.
What are the specifics about Christian Healthsharing Ministries?
HealthShare offers health-conscious individuals and families an affordable way to share medical care expenses with their faith-based community. They are membership-based, non-profit organizations that aim to help facilitate the voluntary sharing between members to pay each other’s medical costs.
That said, healthsharing Ministries do not have to accept individuals with preexisting conditions. Depending on the cost-sharing program, people with preexisting conditions may be turned away, or required to pay costs related to a preexisting condition out of pocket. There are also groups that will begin to pay for preexisting condition treatments once they have been a member for a certain amount of time.
In general, it is good to be aware that with a Healthshare plan, preexisting conditions may not be covered with a cost-sharing program, but it will ultimately depend on the one you choose. If you have a preexisting condition, cost-sharing may not provide the best coverage for you.
Is a Christian Healthshare Plan Right For Me?
Healthshare plans are best for individuals and families who cannot afford traditional health insurance. They are a great, low-cost medical care option for those who need health coverage, but are not in a place to spend extra money on an ASA insurance plan.
Health-shares are ideal for healthy individuals with low healthcare needs. It is important that each individual decides on their own priorities, but people who live an active, healthy lifestyle with little to no regular medical needs might find a plan like this appealing.
Finding the right way to handle the costs of medical care for yourself and your family can be difficult. But you don’t have to handle it alone; Answer a few simple questions, and one of our friendly, knowledgeable agents can get you exactly the right coverage today.