Why We Offer Faith-Based Plans

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Ever since the inappropriately named “Affordable Care Act” (now primarily known as Obamacare) became effective in 2014, individual and family health insurance rates have been skyrocketing. People who purchase these plans are typically small business owners, self-employed individuals, or the remaining family members not covered by the primary breadwinner’s company coverage.

Families that just a few years ago might have been paying $400-$500 a month for good coverage with perhaps a $1000 deductible are now commonly paying $1200 – $1500 a month or more. Just two weeks ago we were helping some clients – a couple in their 60’s – who found their least expensive option to be $2487 a month!

Obamacare has helped a lot of people, who could not previously afford or qualify for health insurance, get desperately needed coverage and thus, medical care. Unfortunately, the system is not working so well for the healthy middle-class families that do not qualify for subsidies to reduce their premium. When a couple is asked to pay nearly $30,000 a year for health insurance coverage, we can see that there is clearly a problem.

The simple fact is that health insurance is truly becoming unaffordable for many, and that many people are simply going without coverage, and dealing with the tax penalties later.

Fortunately, there was another option specifically written into the law. Members of health care sharing ministries are “exempt from taxation under section 501 (a). You can read the exact wording of the law, just do a search on “health care sharing ministry”.

These faith-based plans are not insurance, nor are they regulated by insurance companies. They typically do not cover pre-existing conditions, and there are other restrictions and limitations not found with government-approved health insurance plans. As a result, their costs are much lower, which results in lower costs for their members.

They also contain a faith-based component. Some are Christian-based, while others are non-denominational. But because members must share common ethical beliefs, membership will definitely not be right for everyone.

Having been helping clients with health insurance since 1986, it is distressing to me to see the state of health insurance today. Though well-intentioned, Obamacare has caused a lot of stress and pain to many of our long-term clients. Maintaining a household budget with health insurance costs jumping by thousands of dollars every year, is not easy, and often not possible.

Our mission is to help our clients find the best plan that is right for them, whatever that may be. If that is an ACA-approved health insurance plan, we are experts in this area, and will help our clients get enrolled in the plan that works best for them. But if a healthshare plan fits their needs better, we are proud to have several choices for them to consider.

The more competition, price transparency, and consumer choice there can be in the healthcare system, the better it will work for everyone. We’re proud to be doing our part to make things as easy and inexpensive as possible for the people we serve.

  Date posted: Monday, November 21st, 2016
Category: Health Care, Health Care Reform



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