Is a Health Share Right For You?

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Health Shares have been around for over four decades, but many people still don’t know about them or how they work. Let’s discuss some more information about them, and find out if joining a Health Share is right for you.

What is a Health Share?

A Health Share is a non-profit organization where health care costs are shared among members who have common beliefs. Health Shares are a proven and effective alternative to Health Insurance.

Health Share members have a common goal of sharing in one another’s medical expenses. A Health Share provides an organized way of making this happen.

While most Health Shares today have a religious component (also known as a Health Share Ministry), there are also Health Shares that do not require a religious affiliation to join them.  

How Does a Health Share Work?

As a member of a Health Share, you would pay, or contribute, a set amount of money each month to your Health Share community. 

When an eligible medical need arises, the member would submit a “Need” to the Health Share. Before the HealthShare would pay or “share” in any medical bills, the member would first pay their member responsibility amount (it’s called different things at different Health Shares, but it is very similar to a deductible).

Once the member has paid their responsibility, the Health Share would “share” in all eligible medical expenses.

How a Health Share is Different from Health Insurance

A Health Share is not the same as Health Insurance, and it’s important that people realize that before they make the switch. Here are some of the main differences between Health Share Plans and Health Insurance: 

• Health Share Plans are not required to share in Minimum Essential Coverage benefits, like Health Insurance plans. 
• Health Share plans are typically designed for larger unexpected medical needs and is also a big reason why Health Share plans are much more affordable. 
• Health Share organizations decide what medical expenses are shared with the community, and how the medical bills are paid. 
• Each Health Share chooses who can join their community, based on similar beliefs or ideologies. 
• There are usually restrictions or waiting periods for pre-existing conditions. Look into a Health Share plan if you have a pre-existing condition that you are concerned about. 
• Health Shares are required to undergo annual audits and to make these numbers publicly available upon request.

Special Considerations Before Joining a Health Share

While every Health Share is going to be different, here are some things to consider before joining a Health Share.

• How often you go to a Doctor’s office – Each HealthShare has something similar to a deductible that members will need to pay before the Health Share will “share” in any medical expenses. So any Doctor visits that costs less than your Member Responsibility Amount is the member’s responsibility. Before you become a member, you get to choose what this member responsibility amount is, and some Health Shares will “share” in some preventative care.

• Affordable Care Act (ACA) Compliance – While most Americans can join a Health Share without any worries of being ACA Compliant, there are a few states that have individual state mandates: California, District of Columbia, Massachusetts, New Jersey, Rhode Island, and Vermont. If you live in one of the states mentioned, you will still need to meet the minimal Health Insurance requirement. For those living in a state or district that has a state mandate, you can simply purchase that meets the minimal Health Insurance requirement and you can still join a Health Share. When preventative care is needed, it would be covered through your Health Insurance. When a larger unexpected medical need arises, it would be shared with the HealthShare community.   

• If you have pre-existing conditions – Most Health Shares have a waiting period (meaning you need to be a member for a year or longer) before a medical need for a pre-existing condition is considered “shareable” with the community.

• Religious affiliation requirements – Most Health Shares are faith-based and require members to live according to certain religious or biblical beliefs. Not living by those standards set by the HealthShare will determine whether a medical need is eligible for “sharing” with the community. For example, if you are not married but you or your partner become pregnant, a faith-based HealthShare will not “share” in any maternity bills since it’s not eligible for “sharing” with unwed parents (It is something members agree to before they join). For some, this is a selling point to join that particular Health Share, for others, there are secular or non-religious Health Shares that do not have faith-based requirements.

A Health Share is a great alternative to Health Insurance. In the long run, members save money each month and still have that security knowing that larger eligible medical bills will be “shared” once you’ve paid your member responsibility amount.

Which Health Share Should I Join?

There are a lot of Health Share plans to choose from, which is great, but it can also get overwhelming! 

After much research on all of the Health Shares, I ended up writing an article on the Best Health Share Plans. In this post, I narrow it all down and let you know which health share plans I recommend.