One of the most popular alternatives to health insurance plans today is a health sharing plan. Health sharing plans are not the same as health insurance – and not just because they exist outside of the ACA marketplace. Sharing plans operate with a completely different system that involves members pooling their resources together and funding each other’s medical bills in times of need.
This health coverage system dates back to America’s early history with Christian health sharing ministries established by Mormons and Mennonites. Today, these health sharing plans have evolved to include those from any religious group or walk of life. In addition, new technology has made it even easier to facilitate cost sharing processes. For example, some of the newest health sharing plans use crowdfunding technology and mobile apps.
While health sharing plans do not have monthly premiums, there are monthly subscription fees to consider. These fees can vary based on a number of factors, but they are typically more affordable than your premiums on typical health insurance plans. For example, CrowdHealth offers monthly fees as low as $175 per month. This is a fraction of the average premium for someone with the same level of health.
There are no deductibles to speak of, but you may need to pay a certain amount of money before requesting that your medical bills be crowdfunded. For example, CrowdHealth plans require you to cover the first $500 of your health bill. There are also no copayments to worry about, and CrowdHealth will even negotiate with providers on your behalf to push your medical bills down even further.