We Cancelled our Health Insurance and Found Another Option

Health Insurance Option

Yep, you read the headline correctly.

When I started blogging on January 1st, I committed to bringing you Common Sense wisdom that would help you generate Uncommon Wealth which ultimately would yield an Uncommon Life;  an Uncommon Life that would take the resources we are “loaned” and use them for a higher purpose.

My intent with this message is to share an experience in my own life that is doing just that.  I write this blog not as an endorsement, but simply telling our story.  You can decide after your own research if this type of program has benefit for you and your family.

 


About two years ago, Greg, a friend of mine, mentioned a Christian healthcare organization where members share each other’s medical bills.  With a little research I quickly discounted the concept but a seed was planted.  Over the following months I started investigating more and more about this concept of Christian brothers and sisters coming together, making monthly contributions into an organization where members submit eligible healthcare expenses/bills to be paid.

And then there was the straw that broke the camel’s back. 

In August of 2015 we received our annual health insurance policy renewal quote that pushed our total monthly premiums for the two of us to $1,268; a 24% increase with deductibles of $6,000/individual and $12,700 per family.

We renewed the policy, but the wheels were put in motion to find another way.  After numerous conversations with healthcare professionals, people in the health insurance industry, actual health sharing members, business professionals, lots of family conversation and prayers, at the end of January we cancelled our health insurance policy and joined Medi-Share from Christian Care Ministry.

And here’s why:

  • It meets the requirements of the Affordable Care Act (Obama Care).
  • They have been around since 1993 and now have 189,000 members.
  • We share and believe in the core beliefs of the organization.
  • We kept all our doctors.  It is part of a large PPO network.
  • Medical bill processing is handled the same way as traditional insurance coverage.
  • There is complete transparency of how payments are received and allocated.
  • Almost without exception your calls are answered promptly.  Yes, by a real person.
  • That same real person will offer to pray for you and your family.
  • Monthly we are invited to pray and write notes of encouragement to fellow members facing medical difficulties.
  • A financial health incentive is offered after the first month.  In our case it reduced our monthly portion/premiums by 20%.
  • And we saved over $11,000 a year in premiums.  Our monthly portion/premium is now $285 a month instead of $1,268 with a similar type deductible which Medi-Share calls “AHP”, Annual Household Portion.

Certainly there is a lot more to Medi-Share and similar healthcare sharing organizations than I’ve addressed in this blog.  We found this option meets our particular healthcare needs.  It’s best to talk with your healthcare insurance professional, do your own research, and find the best option for you and your family.

I would be glad to answer any questions you may have, and just to be clear, I in no way represent Medi-Share.

Before you hurry on with the rest of your day, do you know someone who is looking for health insurance options?  If so, forward this information to them, and thank you.

If you feel my blogs could be helpful to someone, I would appreciate your endorsement and encouragement for others to subscribe to my weekly Common Sense Blog.

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