More than 1 million Americans are currently enrolled in faith-based health plans, with numbers increasing every year. We’ll tell what’s attracting them.
A faith-based health plan, also known as a health-sharing ministry, is not health insurance; it’s an alternative to health insurance. In these plans, members share costs with like-minded individuals.
Here are some of the reasons why so many people are joining them
First, for Religious Reasons
For people of faith, sharing healthcare costs with like-minded individuals who hold similar fundamental beliefs is of the utmost importance. When you are part of a health-sharing ministry you know that the money you contribute is supporting health procedures you support.
Another reason is more More Flexibility Over Your Healthcare
Most health-sharing ministries don’t limit choice when it comes to selecting treatment options or medical providers. This allows for the kind of freedom that isn’t possible with health insurance. It shifts the decision-making power from an insurance company to the patient.
Many like the Simple and Transparent Process
Confusing terms like monthly premiums and annual deductibles are absent from conversations about faith-based health plans. Instead, health-sharing ministries use simpler terminology such as “monthly sharing amounts” and “annual sharing responsibility”.
And then there is Affordability
Low costs are what initially attracts many consumers to consider joining faith-based health plans in the first place. Fewer regulations and administrative costs can lead many families to significant savings.