Healthshare Insurance Company Rates

Fast, Free, & Save

Licensed Insurance Agents Available 

 Call Now!

Fast

Free

0

Quotes In 2022

Secure

How Do Health Share Insurance Companies Work?

Shared medical care members contribute a fixed amount to their savings accounts each month. A member of the ministry community who needs help paying medical expenses submits a request for the amount required to cover the bill. Upon approval, either by appointment or by committee vote, the request is paid directly to the healthcare provider.

Before submitting a request for assistance, each family or individual has to pay a set amount, just like traditional health insurance policies. This amount can range from about $500 to $10,000.

The Benefits Of Health Share Insurance Plans

Healthcare sharing ministries have the following advantages:

  • Healthcare-sharing Christian ministries can cover qualified adoption and funeral expenses.
  • An independent accounting firm can ensure a healthcare sharing ministry’s financial stability every year. 
  • Healthcare sharing ministries provide a viable option for those who are looking for an alternative to shopping on the ACA Marketplace.
  • Each family contributes a specific monthly amount based on the program options; healthcare sharing ministries are cost-effective.
  • If you develop a medical condition, your membership cannot be terminated.
  • It is not possible to set an annual or lifetime limit for healthcare-sharing ministries.

Benefits Of Shared Health Care Plans

Healthcare sharing ministries have the following advantages:

  • Healthcare-sharing Christian ministries can cover qualified adoption and funeral expenses.
  • An independent accounting firm can ensure a healthcare sharing ministry’s financial stability every year. 
  • Healthcare sharing ministries provide a viable option for those who are looking for an alternative to shopping on the ACA Marketplace.
  • Each family contributes a specific monthly amount based on the program options; healthcare sharing ministries are cost-effective.
  • If you develop a medical condition, your membership cannot be terminated.
  • It is not possible to set an annual or lifetime limit for healthcare sharing ministries.
Need Help?
Lightning Fast Health Insurance Quotes

Disadvantages Of Health Share Plans

Disadvantages of healthcare sharing ministries include the following:

  • Faith-based organizations can have specific membership rules because they are faith-based organizations.
  • Members might need to attend church regularly, abstain from tobacco and illegal drugs, and affirm a particular faith statement.
  • Many regulations don’t consider healthcare sharing insurance, so consumers have little or no legal protection if a claim is not paid, coverage is denied, or the ministry goes bankrupt.
  • Treasury letter 2016-0051 confirms that healthcare sharing ministries don’t qualify as minimum essential coverage (MEC) the ACA’s employer mandate.
  • As a result of pre-existing conditions, there are a number of restrictions and payment caps.
  • Certain pre-existing conditions, such as diabetes, may require a member to pay an additional monthly amount along with standard membership fees.

Health Share Plans: How Much Do They Cost?

The cost of joining an HCSM plan or program varies according to the size of your household, your age, your marital status, where you live, and the annual unshared amount. Members usually pay less than for traditional health insurance, but there may not be complete coverage due to the lower price.

GET INSURANCE NOW

Individual And Family Health Insurance Plans

Insurance & You 💜

Popular Health Blogs

Find Health Insurance Plans, Affordable Care Act, Prescription Medications, Helpful Tips and More.

Call Now!
Licensed Insurance Agents Available
Call Now!
Licensed Insurance Agents Available

The Easiest Way to Find Affordable Health Coverage in Minutes!

Gender(Required)
States(Required)