With all of the recent changes in healthcare (many of which have made it more difficult for the average person to get the coverage they require), more people are searching for alternatives to traditional health insurance. One such alternative is a faith-based Health Care Sharing Ministry or as some may call, a health sharing organization. While this sounds like a VERY positive thing, many people do not know exactly what a Health Care Sharing Ministry is. Allow us to explain the basics, so you can decide if a faith-based Health Care Sharing Ministry like Altrua HealthShare is the right choice for you and your family.
Health Care Sharing Ministry is Similar—Yet Different
In some ways, Health Care Sharing Ministries are similar to traditional health insurance. After all, when a member of a faith-based Health Care Sharing Ministry needs medical attention, they present their member ID card to a medical provider and the Health Care Sharing Ministry members share in the medical needs according to the membership guidelines. Plus, it is accepted and meets the requirements of the ACA. However, the way a Health Care Sharing Ministry is structured means that the program is often much more affordable for the members because the program doesn’t share in some of the things that traditional insurance pays for.
The Difference Between Insurance and a Health Care Sharing Ministry
Instead of paying a premium each month, the members of a Health Care Sharing Ministry send in a contribution amount. This contribution is held in an escrow account by the organization and then it is distributed to the providers when the members have a medical need. Health Care Sharing Ministries do not have the high administration costs like traditional insurance companies.
For many people, having an alternative to traditional insurance can make a big difference in their personal finances and quality of health care. However, it is important to remember that each of the Health Care Sharing Ministries operate a little different. Altrua HealthShare is a faith-based health sharing organization quite unlike anything else out there.
What Makes Altrua HealthShare Unique
So, why should you consider Altrua HealthShare as the faith-based health sharing program for you and your family? Here are three reasons—for starters.
- Members can use Altrua HealthShare at a vast number of doctors, hospitals and ER facilities.
- Monthly contributions are more affordable than typical health insurance premiums.
- Members share in one another’s medical needs according to the Statement of Standards and membership guidelines.
While we’ve explained the basics of what a Health Care Sharing Ministry is, the concept can take a little getting used to. If you would like to talk to an expert about the subject, why not reach out to us at Altrua HealthShare today? We would love to help you understand our program and show you how it can be the right choice for you and give you the peace of mind you deserve.