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Health Share Plans are a legitimate way to pay for large and unexpected medical bills! In fact, Health Shares have been around for over 40 years, and they are a proven and effective alternative to Health Insurance. Millions of people in the United States have chosen to join one of the many non-profit Health Share organizations.
Health Insurance and Health Share Plans
Whether you choose Health Insurance or a Health Share, the goal is the same: Members want help paying large medical bills that you wouldn’t be able to handle on your own (without financial ruin). In their own way, both Health Insurance and Health Share plans accomplish this goal for their members.
Health Insurance vs Health Share Plans (How they work)
Health Insurance: Members pay a monthly premium.
Health Share: Members pay a monthly contribution.
Health Insurance: Members pay a co-pay or deductible before Health Insurance covers any medical bills.
Health Share: Members pay their member responsibility amount (it’s called different things at different Health Shares, but essentially the same thing) before the Health Share will “share” in any medical bills.
Health Insurance: Members submit a Claim for medical bills. Health Insurance will then pay the required amount.
Health Share: Members submit a “Need” for medical bills. The Health Share will pay for all eligible medical expenses.
Health Insurance: There are a lot of regulations that may limit what medical treatments the Health Insurance company is willing to pay (for example, they will cover chemo and radiation treatments for cancer, but they won’t cover a less expensive holistic option – even it has been proven to work).
Health Share: There are less regulations that may allow for more treatment options. Health Shares that have a religious component may limit sharing if the medical need comes from something that goes against their religious beliefs. For example, a baby out of wedlock, would not be eligible for maternity benefits. There are secular Health Shares that do not have those limitations.
Benefits of Joining a Health Share
There are many benefits to joining a Health Share, but here are the top reasons why many people choose to join a Health Share:
- Save Money. This is the number one reason why most people choose to join a Health Share over Health Insurance. Health Share members typically save anywhere from 30-60% compared to Health Insurance.
- Community. Members choose a community that fits their personal beliefs or lifestyle choices. You can choose a religious Health Share or a secular Health Share. There’s a Health Share for everyone.
- Less or no Network Restrictions. Health Share members typically enjoy more freedom to choose which Doctors or healthcare providers they want to see. For preventative services, most Health Shares seem to have a network that they work with (but not all of them).
- Nationwide or Worldwide sharing. Health Shares usually have sharing available to people all throughout the United States and even abroad. Health Shares are a great option for those who love to travel.
Ready to learn more?
If you are brand new to health sharing, you should start here to learn more about how everything works and how health share plans compare to traditional health insurance.
Once you have an idea of how everything works, I recommend checking out my post on the Best Health Share Plans. While there are plenty of health share plans to choose from, I narrow down the top plans and go into more detail so you can find the right plan for your health care needs.
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