Health Care Sharing Plans

[somarco]

Health sharing plans are an alternative to traditional insurance plans for adults of all ages, including 65+. However, many members are unaware of the financial exposure when using these plans.



More than 1.7 million Americans rely on sharing plans and that many of the plans require members to ask for charity care before submitting their bills.

Sharing plans do not guarantee payment for health services and are not held to the same standards and consumer protections as health insurance plans. Sharing plans are not required to cover preexisting conditions or provide the minimum health benefits mandated by the Affordable Care Act. And unlike health insurance, sharing plans can place annual or lifetime caps on payments. A single catastrophic health event can easily exceed a sharing plan’s limits.

https://kffhealthnews.org/news/article/health-sharing-arrangements-ministries-protections-risks/

 

[sman]

Many of these have popped up in the last decade. Some even more recent. Many of the new ones have serious limitations. I tell people if you are going to go this route, go with the tried and true in Medi-Share. At least they don't have annual or lifetime limits.

 

[straightnochaser]

Why would anyone do this?

 

[LostDollar]

Why would anyone do this?

MONEY, MONEY, MONEY

Health insurance costs and medical costs can have a significant and severe impact on limited incomes.

I have seen a forum member post about using one of these plans with no problems.

On the other hand, I remember a lady telling me a few years ago that she and her husband had no health insurance because they could not afford the premiums. I think they were about two years out from Medicare and living on "hope for the best".

 

[sman]

Why would anyone do this?

Do you pay for your own health insurance through the Marketplace? I do and it's expensive as hell. I have a few clients and friends who have gone to Medi-Share. They've had no issues. Granted, they've not had any huge claims, but they are saving $10,000 on premiums as compared to a similar deductible plan on the Marketplace. And that's just for a husband and wife, not an entire family.

 

[Rossat]

Do you pay for your own health insurance through the Marketplace? I do and it's expensive as hell. I have a few clients and friends who have gone to Medi-Share. They've had no issues. Granted, they've not had any huge claims, but they are saving $10,000 on premiums as compared to a similar deductible plan on the Marketplace. And that's just for a husband and wife, not an entire family.

have similar customer experiences. But it’s great until it’s not. As I’ve also had a few find out the hard way these share plans can approve/deny claims as they see fit. For under 65, I see the value. For over 65, just get a sup. Why take the chances. I just did the math yesterday and the savings versus a plan N is only $200 more over the course of 10 years if you chose N over Medi-Share 65+. For $200 spread over 10 years, it’s worth it know claims will be paid.

 

[sshafran]

For me to get "Health Insurance" thru the marketplace - my lowest premium is $1,594.89 per month.

I'd have a $14,000 deductible.
----
I have Medi-Share.
I happily give them $289 per month.

We've had 3 of the 5 kids (labor/deliver/etc) w/ Medi-Share and 2 w/ traditional coverage. Almost no difference in experience.

Otherwise no major medical conditions in the family.

I've often thought - worst case scenario - if something really bad came up I'd try to "create" an SEP for an ACA plan, or wait until open enrollment, or take a job somewhere with health benefits if things weren't looking good -- but I don't anticipate that happening.

They've done what they said they'd do at every turn. Even if I got pretty sick I don't think they'd suddenly stop paying for medical care.

 

[straightnochaser]

Do you pay for your own health insurance through the Marketplace? I do and it's expensive as hell. I have a few clients and friends who have gone to Medi-Share. They've had no issues. Granted, they've not had any huge claims, but they are saving $10,000 on premiums as compared to a similar deductible plan on the Marketplace. And that's just for a husband and wife, not an entire family.

Yes, and I would much rather do that than let a church decide my care. Religion has no place in health insurance.

 

[sman]

Yes, and I would much rather do that than let a church decide my care. Religion has no place in health insurance.

You obviously don't understand Medi-Share if you think a church is deciding your care.

 

[LostDollar]

Yes, and I would much rather do that than let a church decide my care. Religion has no place in health insurance.

But if MediShare is not Health Insurance, it seems like your argument against it might fall apart.