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Health Insurance is one of those things that I never really gave much thought to. For our entire marriage Adam had worked for large fortune 500 Type companies and we had comparatively affordable Group Insurance Plans.
When we started our own independent business, it was just a side thing and we still weren’t thinking about insurance.
Then our home business was generating more monthly income than Adam’s day job, we realized that going independent meant we needed to find our own health insurance!
That couldn’t be so hard right?
Our Search for Insurance
One of the great advantages of the Affordable Care Act was to create online marketplaces where people can go and shop for health insurance. So finding some options wasn’t much of a problem, but the COST really was!
For our family of four, we were paying nearly $1000 a month for a plan with minimal coverage and a very high deductible. We figured it would be more expensive going it alone, but not at this level!
So we began to look at all available options.
Medi-share is one of a growing number of health care options that are “Sharing Programs” rather than typical health insurance. It provides a truly cost effective alternative to typical health insurance. Medi-share is actually a non-profit ministry that connects Christians together in order to “Share their Burdens”
Pros of Medi-Share
SAVE MONEY IF YOU ARE HEALTHY
There are further discounts for being healthy or for meeting certain health goals (like weight and blood pressure).
IT FITS YOUR BUDGET
There’s something for everyone with program options to fit virtually every budget and family size.
Choose any healthcare provider and enjoy additional savings by choosing providers from the preferred provider network.
IT’S GOOD STEWARDSHIP
Medi-Share members lead biblical lifestyles, and share dollars are never used to pay for procedures that are objectionable.
Since 1993, more than $1.4 billion in medical bills have been shared and discounted by Christians.
It does count as health care coverage meaning there’s no conflict with the ACA requirements.
Cons of Medi-Share
- One con is that isn’t doesn’t cover all preventative care (physicals would be out of pocket).
- You need a separate bank account to pay your “shares”
- Wouldn’t be a great fit if you don’t subscribe to a Judeo-Christian world view
In our specific case after we looked at the pros and cons, it seemed like it was the best option for us. We are saving about 60% on our monthly premium costs with better overall coverage. So even with some potential out of pocket expenses, we come out WAY ahead!
So far we are impressed with the monthly prayer sheets to show what your shares are paying for. We love that they have been open for 19 years and every eligible bill has been paid (suggesting they manage their money well). They use a PPO, so you get the benefits from in network discounts.
If you are trying to go full time with your business, or if you are already independent and looking for a credible and reliable alternative to traditional health insurance, I would heartily recommend Medi-share to you and your family!