Believe it not, cost-sharing as an alternative to insurance is nothing new – in fact, it has been an available option for decades. Most people are just unaware it exists. While cost-sharing plans are not insurance, they function in the exact same way. You pay a monthly amount, much lower than most insurance premiums, while benefiting from catastrophic or emergency healthcare coverage.
The best news is that cost sharing plans meet the requirement set out by the Obamacare mandate. Also, because of their history of lowering costs, you can avoid paying a tax penalty while still paying less out-of-pocket every month. However, healthcare cost-sharing plans are allowed to exclude pre-existing conditions, which means they are not ideal for people with significant illnesses or chronic medical problems.
Meanwhile, they are ideal for healthy families, individuals and small business employees who need catastrophic coverage but lack the funds to pay high premiums. In many cases, it just does not make sense for healthy people to follow the traditional health insurance model.
Below are a few of the most popular cost-sharing plans available on the market. Some are faith-based while others are non-faith based, voluntary, healthcare cost-sharing ministries that are acceptable options to meet the individual mandate for health cost coverage in the Affordable Care Act.
Liberty HealthShare, www.LibertyDirect.org (855) 585-5237
Samaritan Ministries, www.samaritanministries.org (888) 268-4377
Christian Care Ministry www.mychristiancare.org (800) 772-5623,
Christian Healthcare Ministries, www.chministries.org (800) 791-6225
If health cost-sharing makes sense for you, we encourage you to carefully review all four plans, what they cover and which plan best meets your individual and family needs. Regardless what you choose, your Multicare Physicians DPC membership provides a complete spectrum of care to complement your catastrophic coverage.
We highly recommend you combine your DPC plan with a High Deductible/Catastrophic insurance plan. We believe in the importance of having insurance coverage for catastrophic events such as hospitalizations, serious accidents or illnesses.
Also, we are happy to share the contact information of helpful health insurance agents. If you plan on purchasing your insurance on the exchange, you could consider a high-deductible plan.