In a world where high healthcare costs are only getting higher, many people are on the hunt for more affordable alternatives to traditional insurance plans. Health shares, or health care sharing ministries, have emerged as an appealing option for many, resulting in a large upswing in popularity in recent years.
Health shares are organizations where members share each other’s medical expenses. They are usually based on common ethical or religious beliefs, and members of the community make fixed monthly contributions to the community to be used to cover the medical costs of others. While health shares are not insurance, they are similar in that they help spread financial risk among a larger group of people. Below, we’ll explore the various reasons why opting for a health share membership might be the right choice for you.
Health Shares are an affordable solution
One of the most biggest reasons to consider health share membership is the potential for savings. Traditional insurance plans often come with high premiums, deductibles, and out-of-pocket expenses. In contrast, health shares usually have lower monthly contribution rates and are clear about kinds of expenses they will share. This can be particularly good for you if you are in good health and do not require frequent medical services.
Health Shares provide community and support
Unlike traditional insurance, health shares offer more flexibility in choosing healthcare providers and services. As a member of the larger and more popular health shares, you generally won’t be restricted to a provider network, giving you the freedom to select the doctors and hospitals you prefer. This means you can look for the best possible care without worrying about network limitations or additional costs. Many health shares also offer options for different sharing levels, allowing you to choose a plan that best suits your needs or budget.
Health Shares align with your values
If it’s important to you to align your spending with your values, health shares can be an ideal choice. Many health care sharing ministries operate on religious principles, ensuring that your contributions are not used to support practices or services that conflict with your beliefs. This alignment can bring peace of mind to members who wish to maintain consistency in all aspects of their lives, including healthcare spending.
Health shares are not a one-size-fits-all solution, but they can be a fantastic alternative for those who find traditional insurance too expensive or too restrictive. They offer a cost-effective, flexible, and community-oriented approach to managing healthcare costs, all while allowing members to stay true to their values.
If you’re considering joining a health share to help protect against unforeseen medical expenses, we recommend visiting our comparison page here to see what each company can offer, or check out reviews of a couple of the higher rated health shares here and here.
