Health insurance plans are available to cover medical expenses, but these plans can be very expensive and the cost continues to increase. In fact, health insurance costs have surged by 740 percent since 1984, according to data assessed from the Bureau of Labor Statistics Consumer Expenditures Survey.
Many experts believe that healthcare spending in the US is completely out of control and quickly becoming out of reach for some American families, as this infographic from the Peter G. Peterson Foundation shows:
Luckily, there is a non-traditional approach to paying for medical care: health share programs. These programs help pay for expenses associated with medical care but are not insurance plans. Instead, they offer Americans an alternative way to pay for health care without the high costs associated with typical insurance programs.
Here are some signs that it may be time for you to look for a different way to pay for medical care for your family.
1. You Want to Save Money
The average national cost of health insurance per person in America is $4840.33, according to ValuePenguin. For a family of four, that equals a whopping $19,361.32 per year. That’s a lot of money for people to dedicate to just one expense, given the myriad of other costs of daily life.
Instead, health care sharing programs can save Americans a lot of money while still having the benefit of getting expenses associated with their medical bills covered. Health share programs can save Americans as much as 50 percent compared to typical health insurance premiums. If you’re looking to save thousands of dollars per year in health care costs, then a health care program may be right for you.
2. You Want Your Monthly Costs to Suit Your Budget
It can be tough to match a health insurance premium into your budget. While there are different plan options available that vary in terms of cost, there isn’t a lot of wiggle room to choose a certain amount that you can and want to spend on health insurance. With a health sharing program, however, monthly costs are voluntary and are based on the type of sharing program that you choose to suit your budget best.
3. You Want the Freedom to Choose the Type of Health Care Provider to See
Some types of health insurance plans restrict the choices you have regarding the health care providers that you are able to see. These plans will encourage you to seek out care from the particular plan’s network of physicians, medical facilities, and pharmacies.
Instead, a health share program offers more freedom to choose. There are no limits or restrictions as to the type of doctor or specialist that you want to see.
4. You Want the Opportunity to Help Others While Helping Yourself
The Bible clearly states that we are to help out our fellow neighbor, especially in times of need. There are plenty of opportunities in life to fulfill this duty; a health care sharing program is one such opportunity to consider.
Your family can certainly benefit financially when the time to cover a medical expense arises, but you will also be contributing to funds that will be used by other families in financial need with a medical cost to cover. As a member of a Christian health share program, you can be happy to know that the monthly contributions that you make will be put toward helping other people of faith.
“Give, and it will be given to you. A good measure, pressed down, shaken together and running over, will be poured into your lap. For with the measure you use, it will be measured to you.” (Luke 6:38)
There are plenty of reasons to make the switch from a traditional health insurance plan to a health care sharing program. If you’re looking for an alternative way to help pay for your medical expenses while being a part of something that is helping others out, a health care sharing program may be right for you.