Medicare Supplement Plans, or Medigap, work with Original Medicare to lower out-of-pocket costs.
Looking for an alternative to Original Medicare? Medicare Advantage Plans offer coverage identical to Original Medicare with added benefits.
Prescription Drug Plans, or Medicare Part D, covers medically necessary medication — something not covered by Original Medicare.
Hospital Indemnity Insurance helps provide additional financial support when you need it the most.
Want dental insurance with no waiting period? Proper dental care can be an important component of our well-being.
At its most basic level, vision insurance helps cover the cost of routine eye exams, contact lenses, and glasses.
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Find affordable, reliable, easy ACA coverage options. ACA plans are designed to help save you money on the federal marketplace and other state-based marketplaces.
Limited Medical Plans is supplemental insurance that pays you fixed benefits to help with every day medical expenses. You can use its benefits alone or in addition to your primary insurance to give you extra help with those unavoidable out-of-pocket expenses.
Association health plan (AHP) is a type of group medical insurance for employers that allows smaller companies (as well as freelancers and the self-employed) to access the health insurance savings associated with large group medical coverage.
Faith-based plans (also known as healthcare sharing plans) are designed to accomplish the same fundamental goals as traditional health insurance.
Short-term health insurance is a type of health plan that can provide you with temporary medical coverage when you are between health plans, outside enrollment periods, and need some coverage in case of an emergency.
Our Critical Illness Protection Plan is insurance that pays a lump-sum cash benefit directly to a covered employee after a diagnosis of a critical illness. The amount of the cash benefit is based on the condition, covered expenses, and treatments covered by the employee’s plan.
Faith-based healthcare is offered through 501(c)(3) nonprofit charities with a religiously-oriented purpose and serves as an alternative to health insurance. These plans are often referred to as “health sharing ministries” or “healthcare sharing ministries.”
Unlike traditional health insurance, these plans do not “insure” people but rather “share” healthcare costs among a large pool of people. Members pay into the system and upon receiving a bill from their physician, other members of the plan will contribute to help pay the bill.
Functions Similarly to a Credit Union
The underlying philosophy is similar to that of credit unions. Faith-based health plans, like credit unions, are community-oriented and membership-driven nonprofits. So, let’s say Jake is a member of a faith-based health plan. Jake will contribute a monthly fee – a fee that would be much lower than a traditional insurance premium – and, if Jake gets sick, the rest of the members of his faith-based healthcare will contribute money towards his bill.
Faith-based healthcare is not ACA-compliant and does not have to cover the essential health benefits mandated by the Affordable Care Act (ACA). These plans are exempt from the mandates of the ACA. For example, these plans do not have to accommodate the 10 essential benefits.
ACA does set certain requirements for faith-based health plans:
These four plans met the ACA requirements:
No. HSAs only work with high-deductible health plans (HDHPs), so members of faith-based health plans cannot utilize HSAs.
The religious requirement depends on which faith-based health plan you choose. These plans typically ask their members to sign a statement of faith, and some check for proof from your local church. Liberty HealthShare is a Christian healthcare group but members do not need to consider themselves part of a particular church or denomination.
Faith-based health plans do carry monthly premiums and deductibles; however, under different names.
Monthly Sharing Amounts
Premiums are referred to as “monthly sharing amounts” and usually range from around $100 to $500, depending on your plan and size of your family.
Deductibles and other out-of-pocket costs are called “sharing responsibilities” and can be as low as $500 to as much as $10,000, depending on your plan.
Also, in addition to monthly sharing amounts, most plans require a small enrollment fee. In most scenarios, these total costs remain far lower than traditional insurance costs.
The specifics of what faith-based healthcare will or will not cover varies on your plan and on each given circumstance.
Here is a general breakdown of what plans will and will not cover:
Yes. Since faith-based health plans are not bounded by the Affordable Care Act, people can be denied coverage based on pre-existing conditions or for religious beliefs.
Yes, healthcare sharing ministries do not have networks and allow you to see any doctor you choose.
There are several important advantages of using faith-based healthcare as an alternative to traditional health insurance.
There are important risks to be aware of when considering faith-based healthcare:
It depends on the state. 30 states have instituted safe-harbor laws that differentiate between health-sharing ministries and health insurance companies. This prevents state regulators from enforcing strict laws against faith-based health plans. In the map below from The Commonwealth Fund, the states in light green have safe-harbor laws in place, while those in dark green have some other kind of regulatory exemption for healthcare sharing ministries.
There are more than 1 million Americans enrolled in faith-based health plans according to The Commonwealth Fund.
You can enroll online with us. Call (832) 626-7791 or email firstname.lastname@example.org. You can enroll at any time you want – there is no open enrollment period for faith-based health plans.
Call (832) 626-7791 now. Our support team is ready to answer questions about your Medicare or health insurance and put together a comprehensive plan that fits your needs.