WHAT IS A HEALTHSHARE PLAN?

No. That’s because a HealthShare is NOT Health Insurance. While they operate similarly in many ways, there are some key differences between the two. 

Courtesy of HealthShare 101

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

Additionally, the member would first need to pay a set amount, which is the member’s responsibility before the Health Share community pays any medical bills. This is similar to a deductible that you’d have with a Health Insurance plan. 

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

Courtesy of HealthShare 101

Here are some of the ways a HealthShare is different than Health Insurance:

• A HealthShare is a nonprofit organization.
• A HealthShare has open enrollment all year long.
• HealthShare Plans are not required to share in Minimum Essential Coverage benefits, like Health Insurance plans. Depending on which state you live in, you may need to have MEC Insurance in addition to your Health Share membership.
• HealthShare plans are typically designed for larger unexpected medical needs and is also a big reason why Health Share plans are much more affordable. 
• HealthShare organizations decide what medical expenses are shared with the community, and how the medical bills are paid. 
• Each HealthShare chooses who can join their community, based on similar beliefs or ideologies. 
• With a HealthShare, there are usually restrictions or waiting periods for pre-existing conditions.
• HealthShare plans typically do not have network restrictions.
• Most people save up to 30-60% on their healthcare costs when they join a HealthShare.

Courtesy of HealthShare 101

• Save Money - This is the number one reason why most people choose to join a HealthShare over Health Insurance.
• Community - Members choose a community that fits their personal beliefs or lifestyle choices.
• Less or no Network Restrictions - HealthShare members typically enjoy more freedom to choose which Doctors or healthcare providers they want to see. For preventative services, most HealthShares seem to have a network that they work with.
• Nationwide or Worldwide sharing. HealthShares usually have sharing available to people all throughout the United States and even abroad. HealthShares are a great option for those who love to travel.

Courtesy of HealthShare 101