Is health-sharing a good alternative to Obamacare?

If you’re looking for answers to this question, we’re going to assume you’re broadly familiar with the concept of a health-sharing ministry.

If you’re not, this is a good place to get a brief overview.

Health-sharing ministries are experiencing rapid growth as thousands of people are seeing them as a more affordable alternative to Obamacare health insurance.

Here are a few reasons for the explosive growth of health sharing ministries:

  • Price. Unless you’re eligible for a significant subsidy (“premium tax credit”), the price of health insurance under Obamacare is getting out of control for most people. Many families report costs that exceed a mortgage payment. The cost of participating in a health-sharing ministry is usually much less.
  • Exemption. One problem with other alternatives to health sharing (like short-term health insurance) is that you could wind up paying a hefty fine on your taxes for not having “qualified” or “compliant” health insurance. But participation in a qualified health-sharing organization exempts you from the mandates of the Affordable Care Act.
  • Out-of-pocket costs. If you look at Obamacare health insurance plans, you’ll quickly notice that most plans have very high deductibles and out-of-pocket expenses – often more than $12,000 for a family (and as high as $14,200). Given the hefty price of this coverage, many people conclude the numbers don’t make sense. In contrast, your expenses for qualified healthcare costs with a health-sharing ministry are far less.

How does a $1,000 “deductible” sound? (It’s not a deductible because this is not insurance, but you get the similarity…)

So to answer the question: YES, health-sharing ministries are a great alternative to Obamacare… for some people.

Health-sharing organizations are not for everybody. Not everyone will be able to sign off on the faith or lifestyle requirements, and not everyone can even qualify for membership (they can turn down applicants due to pre-existing health conditions). Expenses related to pre-existing health conditions likely won’t be shared either.

Furthermore, there may be limitations or exclusions for coverage. For example, Altrua doesn’t share in cancer expenses in the first 12 months (which is why we strongly encourage Altrua members to enroll in a cancer insurance plan for at least the first year).

But for many people, health sharing ministries are a God-send that helps them save thousands every year. We’ve enrolled many of our clients in Altrua Health Share with very positive results. Find out what it would cost you:

 

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