Health Share Plans: Great Coverage & Prices, Enroll Any Time
Find Out Why Many Are Switching from Traditional Health Insurance to Health Share Plans
Health Share Plans offer better benefits, more options and more affordable rates for many Americans. Thus many have found that these are a viable alternative to ACA/Obamacare and traditional health insurance plans. Over 1,000,000 new members enrolled in these plans in the last two years.
The following are the top six reasons why people are switching to Health Share Plans:
- Lower Prices
- Great Benefits
- More Options
- Guaranteed Issue
- No Penalty
- Enroll Any Time
What is a Health Share Plan?
Health Share Health Care Plans, also known as Health Care Share Ministries (HCSM’s) are 501(c)(3) non-profit organizations that group people for the purpose of sharing the costs of health care and providing affordable rates on medical benefits. Those enrolled on most Health Share Plans are exempt from the Obamacare penalty restrictions of the Affordable Care Act and do not have to pay a fine. Members receive health care benefits at rates usually much lower than traditional health insurance.
The Health Share companies facilitate the coming together of a group of people who have common ethical, moral, religious or spiritual beliefs. Some of these companies, like Medi-Share, Altrua, Christian Healthcare Ministries, Liberty HealthShare and Samaritan Ministries, are Christian and require adherence to strict moral and biblical guidelines. Other companies, like Aliera Health Care, are more inclusive and welcome people with varying spiritual beliefs and varying sexual orientations.
These plans operate very similarly to health insurance plans. You enroll in a plan and you pay a monthly premium. That purchases you membership and coverage for medical-related expenses such as doctor visits, prescription drugs, surgery and hospitalization.
Why Health Share Plans are Better
Traditional health insurance prices have gone through the roof, and Health Share Plans often offer comparable coverage at around 50% of the cost.
PPO coverage is harder to get these days through the state run exchanges like Covered California, but Health Share Plans offer national PPO coverage through some of America’s largest PPO Networks like PHCS.
Also, you don’t have to wait for an Open Enrollment Period in order to sign up. You can apply any time during the year. For more information as to why Health Share Plans are better, click here.
Types of Plans
Health Share Plans use different terminology than traditional health insurance, but they offer the same types of benefits. The four main types of plans are:
- Full Coverage
- Basic Care
- Major Medical
- Short Term
You can enroll in Full Coverage Health Share Plans that are comparable to the Covered California Metallic Plans (Bronze, Silver, Gold and Platinum). These plans offer discount payments for doctor visits, prescription drugs, specialty care, surgery, hospitalization, etc.
Basic Care plans include doctor visits, prescription drugs and preventative care, and they are extremely affordable because they do not include coverage for hospitalization. However, Basic Care plans are not exempt from the Obamacare Penalty.
Health Share Catastrophic Plans, on the other hand, save you money by only including coverage for emergency, hospitalization and surgery. These Major Medical plans are very affordable and they are exempt from the penalty.
Short Term Health Share plans offer better benefits and comparable rates to traditional short term health insurance. They can include first dollar benefits like doctor visits, telemedicine, preventative care and prescription drugs.
For drawbacks to Health Share Plans / HCSM’s, click here.