Consider Health Sharing Ministries
By Steve Gaito
For over 4 years I have been providing consulting services on many of the Health Sharing Ministries. For those of you unaware of these plans they are a very affordable option for healthcare for those who are a good fit. There are many types of plans from basic, and I mean basic plans that cost under $100 a month to those that resemble most major medical plans. Now it is very important to understand that these plans are not insurance. They pool money to meet the medical obligations stated in the plan. This is also where it can get complicated. If you read comments online you will see people that are upset because the plan they selected did not pay. In most cases, it is either something that is clearly stated in the plan that is not covered or it relates to a pre-existing condition. For all of my clients, I seek to understand their medical history to see if these plans are a good fit. The reality is in our society pre-existing conditions like high blood pressure, diabetes, and other conditions are common today. Some of these plans do not cover anything related to these conditions, while others will help with managing them. One consistency of all of them is that if a major health event is in any way related to a pre-existing condition they will not pay for the major health event if it is during a probationary period. Some say it is not fair, but in reality, it is being fair to all the others that participate in the health-sharing ministry.
When I started with health sharing ministries I was looking for something that would bridge the gap between retirement and Medicare. These HSMs fit the bill perfectly for those in good health. Over the past 4 years, I have evaluated most of the products out there. Name recognition and marketing seemed to drive the products that most used. Recently I have used OneShare as my primary product. It is one of the lower-cost alternatives, but what really sets them apart from the others is the way they do business. I personally like their commitment to the charities that they support. I have participated in Tim Tebow’s night to shine and love his passion for helping people with mental and physical challenges. To my surprise, OneShare was a partner with this ministry. That was impressive. I have also learned they support an orphanage too, as well as selecting various non-profits recommended by members. The final reason I moved most of my business to them is how quickly they pay claims. With some of the other providers, I have seen claims take up to a year to pay the doctors. This puts my clients in an uncomfortable position. OneShare has paid $51,219,954 in shared expenses, made $1,729,765 in Charitable donations, paid 76% if sharing requests in 14 days, and 99% of sharing requests in 21 days. For me, this is what stewardship looks like. I don’t know any insurance companies that have a record like this. They may but I have not seen it.
The good news is they are not done yet. They have expanded their board and look to continue to make Health Sharing Ministries an even stronger alternative to high priced healthcare. To learn more and save money right now give me a call and I will be happy to explain the product and see if you are a good fit. If you want more information now click here for details.
There is a frequent Bible verse on OneShare literature that sums up how they approach this ministry.
“Carry each other’s burdens, and in this way you will fulfill the law of Christ.” Galatians 6:2 (NIV)
And for this reason, I am proud to partner with them to provide great healthcare.
Steve is owner of Faith Based Health Care and Retirement Resource Management. He is a National Speaker on the topic of Social Security optimization, quoted in national publications like Money Magazine, US News and World Reports and Fox Business. Steve loves to educate and teach on financial topics like taxation of retirement accounts, long term care, healthcare, and efficient savings plans for small businesses. He has provided financial planning for missionaries through the International Mission Board. You can find Steve at 68 South Main St. in Marion, NC by calling 828-559-0299, email firstname.lastname@example.org or visit his website at www.faithbasedhc.com.
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