Save Money by Choosing Health Share Coverage
Health Share Plans Offer Much Lower Costs than Traditional Health Insurance
Show me the savings! Consumers who do not qualify for a Covered California subsidy are finding that they can save a lot on monthly premiums by choosing a Health Share Plan rather than going with traditional medical insurance coverage. Once people see the substantial cost savings for comparable coverage, many are sold on these plans very quickly.
What Are Health Share Plans?
Health Share Plans are 501(c)(3) nonprofit organizations, which means the IRS classifies them as tax-exempt entities. These plans consist of a group of individuals who share common interests or beliefs, such as charitable or religious organizations. The four main types of Health Share Plans are:
- Full coverage: These plans offer the most comprehensive coverage and provide discount payments for doctor visits, hospitalization, surgeries, prescription drugs and more.
- Basic care: These plans focus on preventative care and basic expenses such as doctor visits and prescription drugs. They do not cover major medical costs such as surgeries and hospital stays.
- Major medical: These plans cover “catastrophic” events such as hospitalization and surgeries, but they do not provide coverage for basic care.
- Short term: Short-term plans meet the needs of individuals who need health coverage only on a temporary basis, such as someone who is between jobs or waiting for a “permanent” plan to begin.
List of Top 6 Health Sharing Organizations
Better Business Bureau Rating
|Aliera Healthcare||A+ Rating|
|Altrua HealthShare||B- Rating|
|Christian Healthcare Ministries||Meets Standard|
|Liberty HealthShare||Not Rated|
|Samaritan Ministries||Meets Standard|
How Can Health Share Plans Provide Lower Premiums?
For a handful of reasons, Health Share Plans are able to offer lower monthly premiums:
- Lower negotiated rates: These plans offer the benefit of strength in numbers — because they feature a large number of participants, it allows the plan provider to negotiate more favorable rates for members.
- Healthier pool of members: Healthy individuals typically require less medical treatment, which helps to keep costs under control and results in lower premiums.
- Members making healthier lifestyle choices: Members of Health Share Plans make their health a high priority and generally do not engage in activities (smoking, poor eating habits, excessive alcohol consumption, etc.) that contribute to the onset of medical issues.
- No coverage for pre-existing conditions: Unlike plans under the Affordable Care Act (Obamacare) that must take “unhealthy” individuals who often require expensive medical treatments, Health Share Plans typically do not provide coverage for pre-existing conditions such as cancer, heart disease and diabetes.
HSPs Require a Commitment to Health
As you can see, not everyone will qualify for coverage under a Health Share Plan. Prospective members must meet the organization’s specific moral, ethical or spiritual guidelines. Health Share Organizations like Aliera Health Care also have a statement of beliefs that members must adhere to in order to sign up for coverage. You have to be committed to taking care of your health. This results in a healthier pool of members and lower costs for those members.
You Won’t Be Paying for the Poor Health of Others
Also, there is no coverage for pre-existing conditions until after a waiting period. No pre-existing coverage sounds like a negative, but that means that you as the member are not paying high fees to pay for the medical costs of someone else who comes in with expensive pre-existing health problems.
On one hand, perhaps you have compassion for people with conditions such as heart disease and cancer. But do you want to be the one to pay for their expensive medical care? Providing coverage for these and other chronic medical issues can cause health insurance premiums to skyrocket. By accepting healthier individuals who share a commitment to maintaining their good health, HSPs can keep these expenses under control while still ensuring you’ll have access to high-quality care when you need it.
If you’re the one with those pre-existing conditions, that’s a drawback for you, and you may want to opt for traditional California Health Insurance in order to get coverage right away. However, if you don’t have pre-existing conditions, you can save a lot of money by sharing health care expenses with a group of similarly healthy people. Health Share Plans make this possible for you.
How Much Do Share Plans Cost?
You might be surprised at the affordability of most Health Share Plans — especially if you don’t qualify for the premium subsidies under the Affordable Care Act. Full coverage plans start at $143 per month for an individual and $357 per month for a family. Catastrophic plans are even more affordable starting at $105 per month for an individual and $255 per month for a family. Comparable health insurance plans often cause double or triple that, especially for families.
Health Share Plans, also known as Health Care Share Ministries (HCSM’s) have done an excellent job negotiating costs with providers. That means lower costs for you at the point-of-service and lower monthly rates. And with the escalating costs of health care these days, any way to save money can have a significant impact on your family’s budget.
Contact Aliera Healthcare for a No-Obligation Quote
Find out how much you can save on your health insurance premiums by getting a no-obligation quote from Aliera Healthcare, a leading provider of high-quality Health Share Plans in California. And feel free to contact us directly to learn more about Health Share Plans and how they can provide a better alternative to “traditional” insurance coverage for you and your family.