Health Care-Sharing Ministries as an Alternative

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Death and taxes have always been givens. But another given is high insurance premiums. Health insurance premiums have risen 20 percent since 2017. This results in the average American family paying thousands in health insurance premiums per year.

The Affordable Care Act is an alternative to some. But there are many families who earn above the financial requirements, yet can’t afford health insurance. Some of these families turn to health care-sharing ministries (HCSM). But what are these faith-based plans, and are they  viable alternatives?

Defining Health Care-Sharing Ministries

Health care-sharing ministries act as an alternative to traditional health insurance. It involves individuals who share a religious or ethical belief. Generally, HCSMs are Christian. An HCSM is not an insurance company. It’s an organization that has its participants share health care costs for a fee.