Many Christians are finding value in the human connection, alignment of beliefs and lower cost of faith-based medsharing programs across the nation. If you’re not familiar with mesharing programs they are health care sharing ministry organizations that facilitate sharing of health care costs among individual members, in the United States, who have common ethical or religious beliefs.
One medsharing company has grown from about four thousand members to over four million just in the past few years. The ministries appeal comes partially from their lower fees but also from their idealogical boundaries.
A Desirable Alternative To Traditional Health Insurance With Aligned Beliefs
Medsharing program members appreciate working with a company that cares about their well-being as opposed to the impersonal nature of traditional insurance. They like that their premium dollars aren’t going to line the pockets of a corporate CEO but directly to pay for needs in the group. They also avoid paying into programs that cover procedures they are opposed to on religious grounds such as abortion or gender reassignment surgery. So for those whose beliefs are aligned, medsharing programs are not only the most feasible option but a desirable alternative.
There is also a convenience factor with their innovative approach that includes telemedicine at no cost. Members can not only use their concierge service to setup appointments, they can also use the telemedicine program that comes with their plans free of charge to consult with certified practicioners via the phone or video conference who can diagnose, treat and prescribe medication if need be.
How It Works
Each company operates with slight changes but the basic idea remains the same: Members pay a certain amount (their “share”) which goes into an escrow account and when a need arises in the group, the members get reimbursed accordingly. The monthly costs vary but a couple in their fifties can get a plan starting at only $399 a month. These plans usually have higher deductibles and per incident limits but the money saved in monthly premiums offsets those factors.
Some of the benefits of Medsharing plans are:
- They can be purchased year round.
- They are government compliant but not affiliated with the government at all, which means they exempt you from the tax penalty and it keeps the government out of your business.
- Guaranteed Issue
- PPO Network
- Your price is based on your age bracket, so you can have peace of mind that your health insurance premium will stay the same until you reach the next age bracket
- When negotiating your bills they have leverage due to the cash they bring to the table as well as tax benefits from being a non-profit organization
Ultimately, consumers will continue to search for the best ways to save money while taking care of their families. The information age we live in nowadays makes it easier for companies that offer the best values to rise to the top. All signs point towards medsharing being the wave of the future. If you are interested in learning more about medsharing plans and/or all your options for health insurance, please contact one of our licensed agents toll free at 866-487-9887.