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In the next couple episodes, we will be discussing some of the nuances of insurance. Insurance is that needed and necessary item that all of us that are listening right now ought to have some form of insurance at the least. It could be as basic as renters insurance, car insurance or even life insurance.  But it could be as complex as healthcare insurance.

In this episode, we will take some time and probe into the pro’s and cons of Christian Healthcare Alternatives.  So, let’s dive into this topic and get an understanding of what these “healthcare sharing plans” are.

 

What is a Christian Healthcare Alternative: Healthcare Sharing Plan?

Description from KitchenStewardship.com:

“In a nutshell, a Christian healthcare sharing ministry puts into practice what the early Church’s habit was in the book of Acts.  It specifically pools everyone’s resources that are enrolled  to help the whole community when in need.

Practically, it means that all members send in an amount of money (kind of like a monthly insurance premium), and from that pool for the month, any members with medical needs (that fit that ministry’s guidelines) get those expenses covered.

It is NOT insurance in the traditional sense at all (nor is it defined as insurance by anyone who counts for anything). 

There aren’t corporate offices, and payment does not go directly to the doctors or hospitals, for it comes to you and you will then pay your bills.  There’s no coding of appointments or procedures, which allows for far less red tape, and technically, there are no guarantees. If there’s not enough money in the pool that month, then a medical need might not get covered or fully covered.

For all of these ministries, you DO have to make a statement of your faith, committing to be a practicing Christian. For some, you need your Pastor to sign a document stating that you’re involved in your church’s community, etc. Things like out of wedlock pregnancies, alcohol and drug abuse and rehab, sterilization – they may not be covered because they go against Biblical teachings.”

 

What are the different companies that do Christian Healthcare?

There are many different companies out there today, but rising to the top are four key ministries…

  • Medishare
  • Christian Healthcare Ministries
  • Samaritan’s Ministries
  • Liberty HealthShare

 

Who is it good for? Who is it not good for?

  • For those with underlying/complicated and even chronic conditions, you might want to go with a bigger insurance company.
  • Christian companies typically won’t cover anything related to drug use, accidents caused by your drunk driving, Marijuana/drugs, etc… If you have exposure to these things, it might not be a good idea.

 

What Are the Pros and Cons of Christian Healthcare Alternatives??

This information, for the most part but not in its entirety, is from RamseySolutions.

Like with any product, health share plans have plenty of pros and cons. But weighing them up, we think the scale tips strongly in favor of using health share plans. Let’s walk through the good and the bad.

 

Pros

  • Health share plans are typically much easier on your budget.
  • You can get into a health share plan regardless of employment status, making it a great option for stay-at-home parents.
  • There’s no need to wait for open enrollment—you can sign up any time.
  • You won’t be kicked out of the program if you develop a medical condition.
  • Most health share plans are explicitly Christian nonprofit ministries.
  • They encourage their members to send letters and notes of encouragement to sick and recovering members.  In this you’ll have the comfort of knowing that believers nationwide are praying for you and your family.
  • There are no annual or lifetime limits on medical expenses.
  • Some (but not all) health share plans include discounts for dental and vision services.
  • Disability sharing (a program to help those who are unable to work) is a feature in some health share plans.
  • Some plans offer Telehealth options.
  • Sometimes, coverage can include expenses for adoptions or funerals.

 

Cons

  • What if coverage is denied? Most valid claims are paid quickly. But no system is perfect. And if the organization fails to pay you—or goes bankrupt—there aren’t any regulations in place to make sure you get reimbursed.
  • Health share plans definitely don’t count as minimum essential coverage. (That means they can’t be offered as an employee benefit by the ACA regulations.)
  • Preexisting conditions will either be ineligible or restricted in a health share plan.
  • In some cases, a preexisting condition will require you to pay an additional fee beyond your normal premium to get coverage.

Even if there are cons, a health share plan just might be the best option for you and your family once your homework is done.

 

Stewardship Application

If you are tired of traditional healthcare plans or their ideology of using their resources, consider going “outside the box”, and look in to Christian Healthcare Alternatives and what they offer to you, not just in savings, but in shared values and faith.

If you are tired of traditional insurance healthcare plans or their ideology of using their resources, consider going “outside the box” of the big box providers, and look into Christian Healthcare Alternatives and what they offer to you, not just in savings, but in shared values and faith.

To reiterate, Christian Healthcare Alternatives are not health insurance companies. Our discussion is for educational purposes and the financial advisors at The Life Financial Group are not agents of any Christian Health Care Sharing plan and cannot offer these plans to individuals.

And remember, these Christian Healthcare Alternatives are a good representation of what the Word of God states from the early church in the book of Acts:

Acts 4:32–35: “All the believers were one in heart and mind. No one claimed that any of his possessions was his own, but they shared everything they had.  With great power the apostles continued to testify to the resurrection of the Lord Jesus, and much grace was upon them all.   There were no needy persons among them. For from time to time those who owned lands or houses sold them, brought the money from the sales and put it at the apostles’ feet, and it was distributed to anyone as he had need.”

 

 

 

 

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