How Health Sharing Differs from Health Insurance

COLORADO SPRINGS, Colo. - Dec. 19, 2023 - PRLog -- Health sharing plans typically work by helping families control exposure to the high out-of-pocket costs of traditional health insurance premiums and copays.

They typically do this while providing patients with much more flexibility to see their own doctors compared to HMO and PPO Marketplace plans, which restrict patients to approved providers.

Healthsharing plans are not insurance. They are a money-saving alternative to traditional health insurance plans that can operate with a much lower cost structure.

Healthsharing plans differ from traditional health insurance in several key ways:

Health insurance companies are usually for-profit corporations run for the benefit and profit of their shareholders. Health sharing organizations are non-profit, 501(c)(3) organizations run for the benefit of their members.

Health sharing plans are typically based on shared values and religious or ethical beliefs and require members to abide by certain lifestyle standards, like no smoking or excessive drinking.

Some health sharing organizations require active attendance or membership in specific churches or religious bodies. Many others are Christian-focused but have no such specific requirements. And many others are completely secular.

Rather than paying a monthly premium to an insurance company, members contribute a set amount into a communal pool. When a member faces medical expenses, the pool is used to help cover the costs.

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