Christian Health Shares
Get Affordable Health Coverage From A Sharing Plan
🏥PPO National Network (largest healthcare provider network)
📉Price Not Based On Income (lower out of pocket & premiums)
🚫Not Regulated By Government
🙋Plans For Everyone (not based on beliefs)
What is a Christian Health Share plan?
Christian Health Sharing Plans, also known as Cost Sharing Ministries, provide a healthcare alternative for individuals of faith. They act like Christian Insurance, operating similarly, but members contribute monthly to a shared fund pool. This pool is then utilized to assist with medical expenses when a member faces sickness or injury. While it may resemble a health insurance plan, it is important to note that there are distinct differences between health shares and traditional health insurance.
That all sounds very similar to a health insurance plan, and it is. However, there are some key differences between health shares and health insurance.
How Christian Health Shares Work
Christian health sharing operates in a similar way to health insurance, with some terminology and operational distinctions you should be aware of before enrolling in these plans.
In the beginning, you’ll apply to become a member of a health sharing ministry, where you’ll need to affirm your moral and/or religious beliefs.
Once onboard, you’ll contribute monthly to assist other members in need.
Should you require medical attention, you’re free to visit a doctor or medical facility of your choice, and all initial bills will be covered.
Subsequently, your health sharing ministry will reimburse you for the portion that can be shared.
Christian Health Shares vs. Health Insurance
Health sharing ministries and health insurance have both similarities and important distinctions. When deciding between these options, it is crucial to consider the following:
- Health sharing ministries are affiliated with religious organizations and require members to align with specific religious beliefs.
- Ministries typically have lower costs before subsidies compared to ACA/Obamacare plans, as they are based on household income.
- Health sharing ministries provide Nationwide PPO networks instead of local HMO/EPO networks offered by Obamacare.
- Enrollment in health sharing ministries is available 365 days a year, without the need for a qualifying event.
- Health sharing ministry memberships are auto-renewable, eliminating the need for yearly plan renewal.
- Membership fees for health sharing ministries are not eligible for tax deduction.
- You can enroll in health sharing ministries at any time, without having to wait for Open Enrollment or a Special Enrollment Period.
Useful Plan Information for Christian Health Sharing Plans
HSMs commonly employ either the Open Access network or the Multiplan PHCS network.
- The Multiplan PHCS network ranks among the largest PPO networks, boasting more than 1 million medical providers nationwide.
- With Open Access, individuals enjoy the freedom to choose any provider they prefer.
- By opting for a PPO or Open Access network, you can typically avail a discount ranging from 30% to 40%.
On average, HSM plans experience an approximate $10 monthly increase. Similarly, insurance plans, on average, witness a yearly premium increase of approximately 10%.
Benefits of Christian Health Sharing Ministries
Flexibility in Provider Choice
Christian Health sharing ministries offer a unique advantage by not imposing any network restrictions. As a result, members have the liberty to select healthcare providers according to their preferences, without constraints from specific networks. This flexibility empowers individuals to seek care from trusted doctors, hospitals, or specialists that resonate with their needs and choices.
Affordability
When it comes to managing healthcare expenses, christian health shares often offer a more cost-effective alternative to traditional health insurance plans. Members usually pay lower monthly sharing amounts, similar to premiums, resulting in substantial savings.
Shared Community and Support
Christian Health Sharing planscreate a sense of belonging among members who hold similar religious or ethical beliefs. Through this shared community, individuals can find emotional support, encouragement, and a chance to connect with others who share their values and experiences.
Shared Decision-Making
Christian Health Sharing plan members are frequently motivated to actively engage in their healthcare choices. By actively participating, individuals gain the empowering ability to voice their preferences, make informed decisions, and collaborate with their healthcare providers.
Exemption From Insurance Mandates
Depending on the jurisdiction, christian health sharing plans 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.
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Are Christian Health Sharing Ministries Right For Me?
To determine if health sharing ministries suit your needs, thoughtful deliberation is essential.
Health sharing ministries provide compelling benefits to many individuals. Some find participation in these ministries as an opportunity to support the well-being of fellow believers. Others see them as the ideal choice for acquiring healthcare coverage outside the Open Enrollment period for the Affordable Care Act.
If your income slightly exceeds the threshold for qualifying ACA insurance subsidies, health sharing ministries often offer the best alternative. However, it’s crucial to consider that health sharing ministries may not be suitable for everyone, as circumstances differ from person to person. Conducting thorough research and assessing the unique features, requirements, and limitations of various health sharing ministries is vital to making an educated decision.
Feel free to reach out to the brokers at Apollo Insurance Group for assistance in locating a health share ministry, at no cost to you.
Apollo Will Find The Right Plan For You
Operating since 2010, Apollo Insurance Group is a prominent health insurance brokerage serving Lee’s Summit, Missouri, and Chicago, Illinois.
Our core purpose revolves around making a positive impact on people’s lives. Through our relentless commitment, we strive to unearth the optimal solutions for our valued clients, foster meaningful connections with our employees, and actively contribute to our communities.
With a specialization in Medicare, life insurance, dental, and vision coverage, Apollo boasts a team of knowledgeable agents well-versed in individual health insurance. Allow us to assist you in finding the perfect plan tailored to your needs. Connect with us today by completing our convenient contact form.
What states are Apollo licensed in with health sharing plans?
Apollo is licensed in all 50 states. This allows us to sell health sharing plans nationwide.These plans are a great alternative to traditional health insurance.
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FAQ with Health Sharing Ministries
Are health shares the same thing as health insurance?
No, they are an alternative to regular insurance plans that offer individuals similar type medical coverage to health insurance.
Do health share programs accept everyone?
Some programs do and some programs don’t accept everyone. The only reason they would not accept is because of a pre-existing condition. This is something that cannot be helped and is out of their control.
When can I enroll?
You can enroll in our program at any time throughout the year. There is no need to wait for a specific enrollment period. Health sharing plans are different in which you also don’t need a qualifying life event either.
How do health sharing plans work?
Health sharing plans typically operate on the principle of voluntary sharing. Members contribute a monthly payment (referred to as a “share”) to the health sharing organization. When a member incurs a medical expense, they submit a claim to the organization. The organization reviews and verifies the claim and, if approved, coordinates the sharing of funds from other members to cover the expense.
What are the advantages of health sharing plans?
Some potential advantages of health sharing plans include lower monthly costs compared to traditional health insurance premiums, the ability to choose healthcare providers without network restrictions, and a sense of community among members who share similar values.
What are the limitations or drawbacks of health sharing plans?
Health sharing plans may have limitations such as not covering pre-existing conditions, having restrictions on coverage for certain treatments or services, and being subject to annual or lifetime sharing limits. Additionally, health sharing plans may not be recognized by healthcare providers, which means members may need to pay for services out of pocket and seek reimbursement later.
Are health sharing plan contributions tax-deductible?
Contributions to health sharing plans are generally not tax-deductible. Unlike traditional health insurance premiums, health sharing plan contributions do not qualify as a medical expense deduction for federal income tax purposes.
How can I find a reputable health sharing organization?
When considering a health sharing plan, it’s important to research and evaluate different organizations. Look for organizations that have a solid track record, good financial standing, clear guidelines on sharing, and positive reviews from existing members. It’s also advisable to consult with a licensed insurance professional or financial advisor to understand the implications and limitations of health sharing plans.
Apollo Will Find the Right Plan for You
Apollo Insurance Group is a health insurance brokerage located in Lee’s Summit, Missouri and Chicago, Illinois. 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 health insurance and are ready to help you find the right plan or answer any questions you have. Fill out our contact form to get in touch with an agent for a free consultation.
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