Healthcare is becoming very expensive in the United States. While some people have high-paying jobs, others suffer and struggle to pay their bills. But everyone needs coverage at some point in their life.
The rising costs make it difficult for people to sign up for traditional health insurance. Traditional health insurance comes with a big burden of paying monthly premiums. Don’t drain your wallet as there is good news for you. You can opt for health share plans. They are also known as medical cost-sharing plans. These are becoming popular, especially when people can pay their bills without committing to high premiums every month.
You can now manage medical bills without breaking the bank. It’s simple! If you want to know more about why health share plans are better, read this post.
Traditional Health Insurance: Not Everyone’s Cup of Coffee
Traditional health insurance is costly. In fact, for a lot of people, it’s downright unaffordable. The average monthly premium for individual health insurance can be about $500 or so; for a family, that can go past $1,500. Not everyone has that kind of a budget. That’s like having a second mortgage! And it does not end here. You’ve also got deductibles, meaning you might have to shell out thousands of dollars before your insurance starts paying for anything.
Health insurance is not everyone’s cup of coffee with these rising costs. Many people feel trapped in a system where they have no choice but to pay enormous premiums just to have peace of mind. But here’s the thing: peace of mind doesn’t have to be so expensive.
What Are Health Share Plans?
Now, let’s talk about health share plans. They’re not health insurance but work similarly without the crazy high costs. Think of it as a group of people coming together to help each other cover medical expenses. Instead of paying premiums to a big insurance company, you contribute a set monthly amount to a community fund. When someone in the group has a medical need, the community helps pay for it.
It’s like crowdfunding for your healthcare, but more organized and with a system in place. You know exactly where your money is going and how it’s being used each month. Many people find this approach to be much more personal and transparent than traditional insurance.
How Does Medical Cost Sharing Work?
Health share plans operate on a pretty straightforward concept. Members contribute a fixed amount each month, often called a “share.” This share goes into a communal pool of money for medical expenses. When you have a medical need, you submit your bills to the Health Share organization, and the group’s funds help cover the cost.
The idea is relatively straightforward: share the burden, help one another, and manage healthcare costs. Typically, these plans have rules or guidelines on what they will or won’t cover, but you get much more flexibility with the plan. You can gain access to emergency room visits, surgeries, doctor visits, and so on.
Why Health Share Plans Are Much More Affordable?
How about we get to the part where we understand the cost of the health share plans? Why are they inexpensive? You have a few questions that need a clear answer.
First, health share plans do not comply with the same old regulations. So, you can avoid the extra costs a traditional insurance company would charge. You save yourself from the high monthly premiums.
The monthly contributions towards health share plans are much lower and better as compared to the traditional health insurance. Also, the plan is community-driven, so the members will encourage you to live a healthier and happier life. You will make better choices in terms of health.
Is Health Sharing Right for You?
Health share plans aren’t for everyone, but they can be a great option for people who
- Want to save money? If you’re tired of paying sky-high premiums and deductibles, then health sharing might be for you. Monthly contributions tend to be significantly lower, and there’s no need to worry about meeting a high deductible before your plan kicks in.
- Live a healthy lifestyle: Many health share plans encourage healthy living, and some even offer discounts for members who meet certain wellness goals. If you take good care of yourself, you might find this approach appealing.
- Prefer a community-based approach: Health share plans are built on the idea of community. You’re helping others when they need it, and they’ll help you when the time comes. If this resonates with you, health sharing could be a great fit.
- Want flexibility in healthcare: If you’re tired of network restrictions and insurance red tape, health share plans offer more freedom. You can typically see any doctor or specialist, which is a big plus for many people.
Healthcare From a Fresh Perspective
Health share plans offer a fresh and effective community-driven healthcare alternative to traditional health insurance. They are an excellent pick for those who want to save money in the long run and avoid monthly premiums, which tend to be high.
Sure, they are not exactly a perfect fit for everyone. Some people can afford health insurance, but others consider this a safety net.
Disclaimer: MPB.Health memberships are a non-insurance solution designed to provide access to healthcare services. We recommend consulting a certified expert advisor to determine if this aligns with your specific needs.
