Insurance is a heavily regulated trillion dollar industry. The goal of insurance companies is to minimize the ratio of claims they pay out and expenses relative to the premiums they take in. They use money they take in to invest (for example, this is a big part of how Warren Buffett got so rich -- investing premiums paid to insurance companies he owned), and spend large sums in regulatory compliance.
I'm not complaining about insurance companies. They're businesses out to make a profit and there's no problem with that. The question though is whether it's the right solution for you.
"Christian health insurance" is a different type of solution. Instead of the insurance model, it works simply: If you have a medical bill you submit it to the healthcare sharing ministry you belong to, and other members pay it.
It is a simple system and it works. Money isn't siphoned off for regulatory compliance or a quest for underwriting profit. It's just members helping other members. You also know exactly how much you'll pay each month, so there are no surprises. Everyone pays a reasonable fixed amount each month based on their ages and family size, and this money is used to pay medical bills as they arise.
There are different healthcare sharing ministries available, but at this point I can only speak about Medi-Share since this is the one I am a member of and see firsthand every month how well it works. Medi-Share is designed to help families by minimizing how much they pay per month and providing them the best possible care.
Here are the benefits of Medi-Share compared to traditional insurance or being uninsured:
- You will save an average of about 63% per year compared to normal insurance.
- Even if you haven't met your AHP (deductible), Medi-Share will negotiate a discount of up to 80-90% on your bill.
- Free 24/7 online doctor appointments
- No Obamacare penalty for being uninsured
- Prayer, help, and guidance from Medi-Share itself and fellow members as desired.
For more details, please read our main Medi-Share review, providing complete information on how Medi-Share works. If you have any questions, please feel free to leave them as a comment on this blog and I'll be happy to reply and answer.