Looking to be a part of a healthshare?

Healthsharing ministries are becoming a more popular alternative to traditional health insurance. And even with hundreds of thousands of people already enrolled, they are still not widely known to most people around the US.

Here are 5 reasons why you should be a part of a healthshare:

 

Price

The price of being a part of a healthsharing ministry is dramatically cheaper than most other options. In fact, for my entire family, I pay around $400 a month to Liberty Healthshare. For this, I have a $1,500 annual unshared amount and receive 100% coverage of eligible medical bills up to $1,000,000 per incident.

Exempt From Penalty

With our current legislation, people are subject to paying a fine if they do not have health insurance. The great thing about being a part of a healthsharing ministry is that you’re exempt from this penalty. Due to the fact that these ministries are religious organizations, its members become exempt from paying this fine. For more information on the penalty exemption, click here.

 

Easy To Submit Bills

Submitting bills with healthshares is pretty dang easy. Liberty Healthshare, where  I am a member, has the simplest online form to submit bills. For every bill that I receive, I simply sign into my account and fill out the following information:

  • Name of member
  • Cost of service
  • Date of service
  • Itemized bill

After submitting the itemized bill, a representative of Liberty will then either pay it directly to the provider or send a check to me for reimbursement.

 

Most Of Your Money Goes To Other People, Not A Company

One of the things that I love most about healthsharing ministries is the transparency. These days, insurance companies are making record profits. It makes you wonder how much cheaper your insurance premiums could be if these companies weren’t profiting so much.

With healthsharing ministries, there is normally a clear understanding where the money is going. I have seen that various ministries will take a 20% cut of all contributions for “administration costs”. And while this is a good chunk of change for ministries that have hundreds of thousands of members, at least we know exactly what they are taking and what is going towards our medical bills.

Healthsharing ministries will often allow all the members to vote on sharing costs each month. We also receive opportunities to vote on various topics such as what expenses can be shared into and what can not. Being able to have a say in the decisions of my ministry really make me feel better about being part of that organization.

 

Benefits Of Being “Uninsured”

Another thing that I have noticed since being a healthshare member: I can still receive the benefits of being uninsured. This is great for both me and my ministry (and their members).

RELATED: We had a baby without insurance, here’s what it cost

Since healthsharing members are technically uninsured, we are considered “self-pay” to many medical providers. This means that we are personally responsible for our bills. Many providers will immediately give a large discount to those that are self-pay. Once I receive this self-pay price, I can forward the bill on to my ministry and they get to pay that price — so the ministry saves money as well.

 

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