A medical expense-sharing program, also called the healthcare ministry, is a non-profit organization where a group of people pays a certain amount of money into a pool fund on a monthly basis to be used for medical bills if a member gets sick.
This is particularly intriguing for people who cannot afford health insurance. The monthly payment is low, which encourages many people to participate in the program. Aside from the monthly shared amount each member contributes, an “annual unshared amount” is kept for personal healthcare expenses called the deductible. If your deductible is exceeded, the group will cover your medical expenses.
If a member has a large medical bill, the healthcare ministry may pay a portion or the entire bill. The organization has created a policy that clearly states which expenses can be shared. The healthcare ministry also cancels cost sharing associated with the immoral act, as stated clearly in their policy.
How Medical Expense Sharing Programs Operate
The program employs and compensates medical professionals, which helps to reduce medical costs. In cases they do not have provisions to employ healthcare workers, you may be referred to a healthcare provider that offers a discount, or you may go to your preferred doctor, but the organization will limit the payment to a sum less than what your doctor would normally charge.
Many programs like this are associated with people who share similar beliefs or religious institutions, as with Christian Healthcare Specialists (CHS). CHS works to keep costs low by participating in a faith-based, non-profit medical expense-sharing program that eliminates the healthcare industry’s bureaucracy.
There is no legal responsibility or contracts for these intended medical bills, making it more prominent among the faithful, who are wary of doing wrong.
The Pros of Being a Member
Many offers, such as low monthly sharing amounts, entice potential members to join. The monthly premiums charged by various health insurance companies are significantly higher than this amount.
The “share amounts,” as the program refers to them, could be $100 or less per month for each person. In contrast, monthly premiums for health insurance can reach up to $330 unless the policyholder qualifies for certain types of government aid that decrease the cost.
The expense-sharing program pays their healthcare providers directly, lowering the cost of treatment. The program includes benefits that are not available in standard health insurance plans, such as adoption expenses, funeral costs, and overseas medical treatment. Some members enjoy the feeling of belonging to a like-minded group.
There is no enrollment period, so you can join the program at any time.
Who Can Benefit from the Medical Expense Sharing Program?
Many people need this program for themselves and their families, but they are not aware of it. Considering all the benefits associated with healthcare expense sharing, you should consider enrolling in a local program. The following are the people who require these services:
- Consider joining a healthcare ministry if you can’t afford your current health insurance plan.
- If you want catastrophic coverage, the program can accommodate that.
- Missing open enrollment for health insurance may seem like a dead end, but you can always join a medical expense-sharing program.
- If you cannot obtain health insurance through a government program or an employer, you should consider joining a healthcare ministry.
- If you are ineligible for a tax credit due to low income, this program is for you.
Everyone, especially those in good health, is welcome to participate in this program.
Joining a medical expense-sharing program lets you get quality healthcare at a minimal cost. It relieves you of all the stress and protocols that come with dealing with various healthcare insurance companies. Christian Healthcare Specialists-Newaygo is a non-profit division of Christian Healthcare Centers. Our mission is to provide exceptional medical services. Please call 231-707-2313 to schedule a consultation. You’ll be glad you did.