Health Sharing Ministries - Affordable Alternative or Risky Bet?

What Are Health Sharing Ministries?

Healthcare sharing ministries (HCSMs) are organizations where members share medical costs according to religious or ethical principles. They are not insurance. Members pay a monthly share (typically $100-$500 for individuals) and submit medical bills to the ministry for sharing among members.

How They Compare to Insurance

Monthly costs are significantly lower, often 50-70% less than comparable health insurance premiums. But HCSMs are not subject to ACA regulations: they can exclude pre-existing conditions, limit coverage amounts, and are not required to cover essential health benefits like mental health, maternity, or prescription drugs.

The Risks You Should Know

HCSMs are not guaranteed to pay your bills. Sharing is voluntary. The organization facilitates but does not guarantee payment. Pre-existing conditions are commonly excluded for 1-3 years. Annual and lifetime limits may apply. Some have excluded members for lifestyle choices that conflict with their religious guidelines. If the ministry faces financial difficulties, your bills may not be shared.

When They Make Sense

HCSMs can work well for healthy individuals and families who are priced out of the insurance market, have no pre-existing conditions, understand and accept the risks, and have emergency savings to cover potential gaps. They are not a good fit for people with chronic conditions, those who need guaranteed coverage, or anyone who cannot absorb the risk of unpaid bills.