Health share membership
Due to the ever-changing world of healthcare and its requirements, Health Share or Medical Cost Sharing Ministries have gained quite a bit of popularity amongst the Christian community.
What is a Health Share Membership?
Medical Cost Sharing Ministries are an affordable way to plan for unforeseen medical expenses. When you break it down, medical cost sharing, or health sharing ministries, are a group of like-minded individuals agreeing to come together and help each other pay their medical expenses.
They offer faith-based programs for planning for unforeseen medical expenses. They follow their own set of guidelines and may not for everyone, but provide an affordable option for many people.
They don’t have to play by the same rules as health insurance. For example, since there are no network requirements, you can go to whatever doctor you like. After you enroll, you get a membership card, and when your doctor asks for your insurance, you can give them your card. For many programs, it will be processed in the same way.
If a doctor does not accept your membership, these health sharing plans will pay in cash. This means you can always get reimbursed if you choose to stay with that doctor and pay out of pocket.
The Way It Works
Basically, everyone pays in a certain monthly share amount, and for your expenses, you will have to pay an amount similar to a deductible called “annual personal responsibility,” or “unshared amount”. After that, your remaining medical expense balance is shared among the group from what they have paid in. There are many situations there is coverage up to $1 million per incident!
Since they are Christian health care ministries, they do have different guidelines (like smoking, or specific pre-existing health or lifestyle-related conditions). In which case they will decline membership.
Some programs will take people with pre-existing health conditions. These types of situations may be handled in a few different ways. The pre-existing health condition may be phased in. If that’s the situation, members do not share costs for that condition during the first year. Members share up to $50,000 of eligible expenses to treat that condition during years two and three. However, some pre-existing conditions might never be shareable.
More questions about Christian health insurance? Give Blake Insurance Group a call today!