816-400-4477Health Share and Traditional Insurance Comparison
Find Affordable, Flexible Healthcare Coverage
Health Shares vs Health Insurance
Similarities
- Both health shares and health insurance plans can help you pay for medical expenses.
- Both typically cover a wide range of medical services, including hospitalization, surgery, doctor’s visits, and prescription medications.
- Both offer access to a network of health care providers.
Differences
- Health shares typically have lower monthly premiums than health insurance plans. However, health shares may have higher out-of-pocket costs, such as annual sharing amounts and medical expense caps.
- Health shares are not subject to the same regulations as health insurance companies. This means that health shares may have more different coverage limits or exclusions compared to traditional insurance.
- Health shares are not tax-deductible, while health insurance premiums may be tax-deductible for some people.
Which one is right for you?
The best way to decide whether a health share or a health insurance plan is right for you is to compare the costs, coverage, and network of providers of different plans.
Health Insurance Options
Affordable Care Act Plans
An ACA plan, also known as an Obamacare plan, is a health insurance plan offered through the Health Insurance Marketplace (established by the Affordable Care Act). These plans are designed to provide individuals and families with access to affordable, comprehensive health coverage, often with the aid of tax credits and subsidies.
Short Term Plans
Short term plans are meant to be an option when you are: in-between health insurance plans, outside of open enrollment times, or solely want coverage in case of a catastrophe. These plans are typically the most affordable each month but also come with the least comprehensive benefit package.
Health Sharing Ministries
In a health shares members contribute — typically monthly — a payment, or share, to help cover the qualifying medical expenses of other members. Health shares are consistently growing in popularity as other insurance carriers continue to raise monthly premiums.
Top Health Sharing Companies
Universal HealthShare
Universal HealthShare is a health share that offers a more affordable and flexible alternative to traditional health insurance plans. It is based on the principle of pooling contributions from members to cover eligible medical expenses.
One Share Health
OneShare Health is a health share that offers affordable and flexible healthcare coverage to its members. It is based on the principle of sharing medical costs with other members, and it is not health insurance.
Netwell
Benefits of Health Sharing Ministries
Flexibility in Provider Choice
Health shares typically do not have network restrictions, allowing members to choose their preferred healthcare providers without being limited to specific networks. This flexibility gives individuals the freedom to seek care from doctors, hospitals, or specialists they trust and prefer.
Affordability
Health shares are often provide a more cost-effective option for managing healthcare expenses compared to traditional health insurance plans. Members typically pay lower monthly sharing amounts (similar to premiums) than they would for insurance coverage, which can lead to significant savings.
Shared Community and Support
Health share foster a sense of community among members who share similar religious or ethical beliefs. This shared community can provide emotional support, encouragement, and the opportunity to connect with like-minded individuals who understand their values and experiences.
Shared Decision-Making
Members of health shares are often encouraged to actively participate in their healthcare decisions. This shared responsibility empowers individuals to have a say in their treatment options and engage in shared decision-making with their healthcare providers.
Exemption From Insurance Mandates
Depending on the jurisdiction, health shares may be exempt from certain insurance mandates. This exemption can provide individuals with an alternative option for managing their healthcare costs, potentially avoiding penalties or requirements associated with traditional health insurance.
Health Insurance Testimonials
I don't know much about insurance, but I know these are the people I want to work with. My rep has been Matt Sisk for the last two years and I hope he's my rep for the next fifty. Best customer service I've ever received, very quick responses, and very personable. He even asked me about my cat. Can't exaggerate it enough, if you get the opportunity ask for Matt Sisk. 10/10, he's so great
Ashley - Happy Client
I had the pleasure of working with Jacob Katzfey during Open Enrollment. He directed me to the right policy for my situation. His professionalism and ability to explain all the policy benefits made the process super easy and stress free. Thanks you for all your help.
Randy - Happy Client
Austin has been fantastic to work with. This was my first time getting an individual plan and he really helped me through out the whole process. I have already recommended him to many friends and family because I was so impressed with the high quality service he provided me. Thank you so much Austin for all your help and hard work.
Brik - Happy Client
Stacia's Story: Overcoming Cancer Treatment Costs with Apollo Health Insurance
Frequently Asked Questions for Health Sharing Plans
What are health sharing plans?
A health sharing ministry is a membership-based organization that helps members share medical costs with each other. Health sharing ministries are not health insurance companies, but they can offer a more affordable and flexible alternative to traditional health insurance plans.
How do health sharing plans work?
Members of health sharing ministries pay monthly contributions, which are used to pay the medical expenses of other members. When a member incurs eligible medical expenses, they submit their bills to the health sharing ministry. The ministry then reviews the bills and shares the costs with other members. Members are responsible for paying their share of the costs, which is based on their monthly contributions.
Who is eligible to join a health sharing ministry?
Eligibility requirements for health sharing ministries vary, but most ministries require members to be Christians and to meet certain health requirements.
What are the benefits of joining a health sharing ministry?
- Affordability: Health sharing ministries are typically more affordable than traditional health insurance plans.
- Flexibility: Health sharing ministries offer a variety of plans to choose from, so members can find a plan that meets their needs and budget.
- Comprehensive coverage: Health sharing ministries typically offer comprehensive coverage for eligible medical expenses, including hospitalization, surgery, doctor’s visits, and prescription medications.
- Access to a network of health care providers: Many health sharing ministries offer access to a network of health care providers, which can make it easier to find affordable care.
Apollo Health Insurance is a health insurance brokerage located in Lee’s Summit, Missouri. We have been around since 2010, and our mission is to positively impact people’s lives. We do this by fighting to find the best option for our clients, create relationships with our employees, and give back to our communities. Apollo also specializes in Medicare, life insurance, dental, and vision plans. We have agents that are experts on group health insurance and are ready to help you find the right plan. Fill out our contact form to get in touch with an agent today.
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