7 Health Care Sharing Ministries: Why One of Them Might Be Right for You is a guest post from Jacquelyn Pica.
Health care is one of the most hotly debated and controversial topics in the country. It can be expensive and confusing, and — if we’re being honest — feel hopeless at times.
The high costs and frustration have caused many to turn toward an alternative to traditional health insurance: health care sharing ministries. These organizations are made up of members who share a religious belief or similar ethical values, and split the costs of medical bills.
How Do Health Care Sharing Ministries Work?
The ministries are owned and operated by non-profit religious organizations, which means members are exempt from the Affordable Care Act mandate to purchase health insurance (Note: This bill now removes that requirement for Americans). All members split medical costs, so consumers have much lower monthly payments than you would with traditional health insurance.
Typically, everyone’s monthly payments are pooled together into one large account, which is later allocated to cover medical needs as the ministry sees fit. This helps everyone save money. Each ministry has different lifestyle requirements, but most are in agreement that members must abstain from the use of tobacco and illegal drugs. [Read more…]