According to the Alliance of Health Care Sharing Ministries, there are health share members in all 50 states, and nationwide about 900,000 people are enrolled in one of the AHCSM companies. But that number only represents 7 out of roughly 100 companies! That means that easily over one million people are enrolled in some kind of health sharing organization. And that number is climbing as we speak.
So why are health shares becoming so popular? Three main reasons stand out to us: cost, coverage, and flexibility.
Health sharing memberships are usually much less expensive than traditional health insurance, so one of the most important factors driving the popularity of health sharing plans is cost.
People, like yourself, want an alternative to the traditional health insurance industry that seems to be spiraling out of control. Since health share membership programs allow members to share in the cost of each other’s medical expenses, people figure that they can avoid the insurance anxiety headache while having a little back up.
Some reasons why health share plans are less expensive than insurance:
- Health share plans are exempt from some taxes and fees that health insurers must pay.
- Health share plans have lower administrative costs than insurance companies.
- Health shares can restrict what expenses are eligible for sharing.
As a result, health share members can save hundreds—or even thousands—of dollars per year on their medical expenses.
Another reason why health sharing plans are becoming more popular is that they often offer better coverage than traditional health insurance. Of course, we use coverage in a general sense. Health shares are not contractually obligated to “cover” anything. That might sound a little unsettling, but keep in mind that these companies want to keep their customers happy since that’s how they stay in business. And the way they can keep members happy is by sharing according to their member guidelines.
Anyway, health sharing plans typically have much higher maximum payout limits than traditional insurance plans. Some plans don’t even have a limit on what can be shared if the medical issue is eligible according to their guidelines. This means that members can have peace of mind, knowing that their medical expenses will be paid for in the event of a serious illness or accident—without a big leftover bill.
Finally, many people are choosing health shares because they offer more flexibility than traditional health insurance plans. Health shares often have more forgiving standards for qualification than traditional insurers. Many people can easily qualify for a health share plan when they might not be able to access traditional insurance as effortlessly—including people with pre-existing conditions and chronic illnesses.
Other ways health shares are flexible:
- You can use a health share anywhere in the country, or world!
- You can tailor your plan options to suit individual or family needs and budget.
- You have the freedom to select your preferred provider.
- You decide which company best aligns with your personal values.
An affordable alternative to insurance
We are not surprised to see health share membership becoming so popular. If you are among the millions of Americans currently looking for an alternative to health insurance, or if you are just looking to modify your healthcare strategy, you might want to consider a health share plan.
As always, we must recommend that you do your research. We think doing your research before making a health share decision is so important, we dedicated this whole site to it! So, take a look around; Healthsharing Reviews is a helpful, totally free resource. We hope you find the information you need to select a company and plan that is the best fit for you, your budget, and your family.