A medical cost-sharing community is a group of individuals who agree to come together to handle the payment of larger medical expenses. How likely would you be to participate in such a medical cost-sharing community where all of your medical needs above $1500 are handled by the community in exchange for committing to a monthly share of around $200?
There’s no “not gonna happen; my Medicare is less expensive” option. And it’s not because “I am not interested in any alternative to traditional health care plans”. My younger brother has one of those “sharing” policies, and he’s paying a few hundred dollars less per month than he did under his older policy. But he hasn’t had to use it, so I don’t know how premiums would be affected if he did.
The less government, unions, PAC’s, and insurance companies influence the doctor-patient relationship (i.e., have their hands in the cookie jar), the cheaper health care will be for everyone. Not exactly what AMAC wants to hear, I know. When I didn’t have insurance, my doctor lowered his prices to a fraction of what he used to bill the insurance company. I paid for his services the day they were rendered. Competition, posting prices, sharing of expensive equipment (do several doctors in a small building each have to have X-ray machines?), group policies, etc., all contribute to a more affordable system.
LET THE FREE MARKET RULE !
But will there be government “oversight” or any other interference ?
And as we all know the Devil is in the details … and who is administering the program.
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#TRUMP2020 – Deus Vult !
I have the same concerns with a medical cost-sharing community plan as I have with any insurance plan.
Does the plan have sufficient reserves and cash-flow to cover either an unexpected increase in the number of claims filed or an unexpected number of large claims ? And what is the reinsurance and/or individual stop-loss protection in place to protect both the plan and individuals insured under the plan from unforeseen losses.
I have been a member of such a plan for over 10 years and have received great coverage. I have saved thousands of dollars compared with traditional health plans. The community has never failed to meet a covered need. I highly recommend mine: Christian Healthcare Ministries.
I have thought about this as I have a $4000.00 deductible on my insurance.
We’ve been a member of such a group for about 5 years and have had excellent customer service and coverage. Our “traditional” coverage was going to hit close to $1000 a month with Obamacare when it had always been less than $400.
The $200 a month is not a major issue, but the amount of money that I might need to spend and have no idea it’s coming down the pike, because of someone’s very large expenses is always an issue. And there is no way in the world that I’m going to give someone control of my money without knowing what’s coming. Also I’m not totally convinced that the people who set these programs up have completely altruistic motives. I’ve always taught my kids and it still holds true that everyone has some hidden motive for something they do with very few exceptions. It’s always good to know what those hidden motives are before committing to anything.
How does this work if you have medicare? and How about pre existing conditions like diabetes? or want/need weight loss surgery?
I belonged to such a group before Medicare and ObamCare which was UNaffordable.
There must be a better way to insure healthy people other than what I have now which is high deductible and 1200/month. That is a house payment in the south
My wife and I are in the VA System as a result of our military service. However, i would prefer a market based payment.
These type of things can be very successful if done correctly.
We have been part of Christian Healthcare Ministries for over 10 years. We have been very satisfied. Gold plan cost is $150 per month!
I have been part of a cost-sharing community for over 3 years. I also have a concierge physician (part of which is paid for by my cost-sharing plan). I have never been happier with my health care. However, when I enroll in Medicare in a few months, this arrangement will not make as much sense financially. Will re-evaluate at that time.
Franklin D Roosevelt’s experiment with Socialism continues to intoxicate Americans. We like the idea of “free stuff.” And Roosevelt’s promises of “cradle to grave” economic protections got him elected four times. Those years were the most economically destructive in American history. One in four Americans became unemployed. Millions of American families lost their farms and businesses.
Social Security has become a black-hole of abuse and wasted federal funds. It is a national disaster that will probably never go away. There has always been a better way to manage retirement and Healthcare. Let the free markets and enterprising Americans do what they do best. Self-determination and personal responsibility are key to succeeding at anything. We just need the federal government to get out of the way.
Already am in one with $30 co pay for catastrophic diagnoses. Well care and minor sick care costs are out of pocket. Works great for us.
I think it is probably good for young adults and young families. Senior citizens sometimes need more doctor visits, sometimes hospitalization and I wonder if being in a cost sharing community would be a burden to those younger families. I would have to learn more about this type of program.
I’m already a member of such a community, and have been for the past 5 years. Liberty HealthShare is a wonderful Christian Conservative health sharing community of Liberty minded Americans, and I high highly recommend AMAC look into forming a partnership with their organization for the benefit of your members.
Until patients begin to change their behavior to improve their health and stop looking only to procedures and prescriptions for cures I won’t be interested. I believe what is needed is honest pricing. Medicare payments to hospitals are most of the time less than 10% of the billed charge. I would need no insurance, except for catastrophic occurrences, if pricing were fair. The same is true for prescription drugs. I’ve been auditing medical bills for 17 years because my husband is a cancer survivor and laryngectomy. Pricing in the health care world is beyond unfair in many ways it is criminal.
I may not understand all the nuances of this kind of plan but I eat healthy, exercise, work to keep my cholesterol low and take good care of my health. I think people who are overweight, diabetic, have high blood pressure, smoke, use drugs and don’t try to stay healthy would raise the costs compared to those who work to stay healthy. I don’t think those who work to stay healthy should bear the burden of those who don’t.
The graph bars and the numbers don’t correspond = makes for a confusing display of the results.
The insurance industry needs to be redirected to provide “cradle to grave” policies, pro-rated for higher earning periods and actualized over a lifetime. Incentives could be incorporated for healthier lifestyles (nonsmoker, within weight standards, etc). Right now, my husband and I could afford really great health insurance coverage for all the money we pay into Medicare and we don’t use it because we’re healthy. I would rather control my healthcare dollars and have choice as to my coverage for my entire lifetime. Agree with the below comments on the pooled medical expenses — need more detail.
I was enrolled with Christian Healthcare Ministries for about ten years before enrolling in Medicare. I think that the sharing technique is best way to go for most people these days. This is due to the cost of government imposed insurance restrictions that have resulted in major price increases for insurance that most will never need. If a person pays attention to his health, the only value of insurance would be short term critical care. I think that Medicare could cut their costs substantially if they removed long term pharmaceutical care for most and promoted the long term natural living alternatives that have been proven successful.
I am part of Christian Health Ministries. It is an okay idea, but did t cover any cost for my CPAP and testing I needed for it! Paid a few thousand out of pocket for the machine, and also paying for testing. I’m not able to claim ANY of it. I would need to know more.
I am already in a share plan CHM. I like the idea of sharing each other’s burdens.
I also like the idea of not paying a big insurance company that makes bad deals with the government , like Obamacare.
Christian Healthcare is the one I chose and it was amazing how great a low cost healthcare, $150.00 monthly premium, you could purchase once you get the government out of the way. My policy under Obamacare, a middle class ripoff, was over $500.00 a month with a $16,000.00 deductible. Christian Healthcare also figured out inexpensively how to pay for preexisting conditions with their extra blessings feature.
cost sharing community? Isn’t this what the insurance industry is supposed to be doing?
When President You Can Keep Your Doctor Obama signed the Unaffordable Health Care Act he killed the excellent health care insurance we had for many years. He also eliminated our doctor with the stroke of his pen. We had no intention of signing on to Obamacare so went looking for an alternative. Our experience with Liberty HealthShare was superb from beginning to end. The reasonable monthly shares, reasonable unshared annual amount, the choice of our own healthcare providers, the provider discounts for not making them deal with the insurance companies, the exemption from the penalty tax and the excellent customer service made the whole experience very positive. And contrary to what you may have heard many of these organizations have been around since well before Obama. Liberty HealthShare has been an organized healthcare sharing ministry since 1995. Our current Medicare coverage in a Senior Advantage Plus Plan is only about $60 less per month than our couple share in Liberty. Highly Recommended!
I have been participating with Samaritan Ministries Health share for a number of years now. The service has been excellent, needs are met readily and there is a bit of community which normal health plans don’t have. The cost is a fraction of what it would be for traditional health plan especially now that we’ve had all the increases.
I Think this is potentially a good idea and am in favor of giving it a try. However, I voted no because as a veteran that carefully prepared for my retirement from college I have excellent redundant healthcare and income. Not good for me but clearly we need better alternatives to include across state lines and portability from job to job Nd lower drug costs. I personally would favor a national system of PREVENTIVE services available to all paid for through payroll deduction with employer cost sharing. Clearly, a healthy workforce with early detection of problems benefits all and should lower insurance costs.
I’m already a part of such a group, CHM.
I checked into this but it is only for “healthy” people. Because I am on Humira, a very costly medication, I do not qualify for medishare programs
We belonged to a medical cost sharing community until we both retired. Out supplemental insurance plan is very cost effective and our medical costs are negligible. For those who do not yet qualify for medicare, I highly recommend joining one. It reduced our insurance costs by about 2/3 and provided better care.
For me personally, I am Medicare primary and Tricare for Life secondary so I am in a very good place as long as the government doesn’t mess it up so I do not wish to change. I do know a number of people who have been in cost sharing arrangements that have worked very well for them.
This is the very definition of insurance.
I answered YES, because I would (IF) I needed health insurance. I am both Medicare at 72 and VA from the Nam Period. BUT at in the late 1980’s, before I knew I was VA Eligible, I had tried to get Health Ins to replace my X wife’s coverage. I was quoted over $1,700 per MONTH to continue coverage from her Sate Employees Blue Cross Plan, so I had no insurance. Fortunately I never needed it.
I already participate in a healthcare sharing community and we share any medical burdens over $300. It’s great! I highly recommend it.
We’ve known of these kinds of health sharing programs for many years. Samaritan Ministires & Medishare are some of them.
It might be interesting to read more on it
You missed an obvious answer option!
I am already a member of a health sharing plan.
Strive to kill ALL of ocare, kill BIG PHARMA, limit medical liability payouts, GET CONTROL OF THE SYSTEM…the costs will be significantly reduced.
I would be grateful if AMAC would either start such a plan or endorse an existing plan after the usual investigation.
My husband and I pay $1300.00 a month for our insurance now. Ridiculous! BUT, there is NO PREexisting, and we have prescription coverage, and is PPO! Deductible is $5400.00. If you can beat this, I will certainly consider it!
Sorry, but no way can I afford $200 over my monthly insurance cost.
I already have a cost sharing program called insurance.
Share plans are great for those without preexisting conditions. There is a 3 year waiting period on payout with preexisting conditions. Since it is not insurance, there will be a gap in coverage, you could find yourself uninsurable if you want to go back to traditional insurance. The ACA is the worst thing our government has ever done to American families financially, but that is what some of us are stuck with for now. I spend over $30k per year, but my child could be left the rest of his life uninsured if I went to a med share plan.
We also belong to Christian Health Ministries. For my wife and me the “Gift Sharing” is $340 per month. Everything over $500 per medical event is totally covered. AND if you can show the discounts you have gotten for self pay, the discounts come out of the $500 “deductible/co-pay”. We have had 2 semi-major medical events in which we had NO out of pocket expense; we got back every cent. We pray we can keep the busybodies/government/regulators out of this…
I am also a member of CHM. I have not had any claims yet, but know others who have and have had no problems. It is true that they don’t take pre-existing conditions. But they do have a sharing page for those who join and have bills from pre existing conditions The testimonies are amazing.
My wife has been participating in Samaritan Ministries, a faith based sharing program for several years. Nothing but fantastic. She had cataract surgery a year ago and they were with her every step covering much of what traditional insurance doesn’t. Cost is less than a third of what we were quoted from the biggy’s.
I am already a member of one! Christian Healthcare Ministry. Obamacare had us paying $35000.00 out of pocket before insurance would pay.