If you are like most people, you are probably wondering how the changes to the health insurance industry under the Affordable Care Act (Obamacare) will affect you come January 2014.
I found a video from Dave Ramsey that is quite helpful in understanding what these changes mean (scroll down to view it). Whether you are Republican or Democrat, I’m sure you will like his simple explanation of how the new laws on healthcare insurance will effect you. And, they will affect you. The question is not if, but when and how.
With the deadline quickly approaching, my husband and I have been doing a little research to see what options are out there. If insurance premiums start to rise at such a rate that exceeds our budget, we need to know what other options are out there. One of the options that has begun to grow in popularity are Christian healthcare sharing ministries like Samaritan and Medi-Share.
I have not personally used either, however after all the comments and research I have done, there seem to be more people with good experiences at Samaritan. I have read quite a few reviews of issues with Medi-Share for reimbursement and paperwork. However, those are all just my insights from research I have done!
Yesterday, I was thrilled to get a letter from our healthcare provider stating that our rates would not go up in 2014. But, I have a sneaky suspicion that we will need to start seeking out other options before the end of the year. (Watch the video below to find out why. ) Be sure to check with your current provider and see what their policies for 2014 will be. You might be pleasantly surprised to see you have a little time.
What is Christian Healthcare Sharing?
Health care sharing isn’t insurance; it is a group of Christians who share medical needs/expenses, and the members pay each others’ bills. For instance, if I sign up I would send out a check to another member for their expenses as if it was a premium.
Am I exempt from the penalty tax?
Even though health sharing isn’t technically insurance, members of recognized health sharing ministries like Samaritan and Medi-Share are exempt from the individual mandate penalties. In these programs you aren’t subject to the penalty. You can read more on how exemption of the penalty tax works here.
Reviews from Others Who Use Healthcare Sharing
Here are a few reviews you might find helpful in making your decision. A friend of mine, Shaun wrote about when his son became sick and with Samaritan, their out of pocket expenses were only $12. Joy wrote a full review of Samaritan over at Money Saving Mom, and she has been with Samaritan since 2007, which is quite helpful. I personally know both Shaun and Joy and value their insights, so if you are considering health sharing, head over and see what they have to say.
Hint: Be sure to checkout all the comments, I found it insightful to hear others experiences with Christian healthcare sharing programs.
Video: How Does the Affordable Care Act Affect You?
Have you used a health sharing network to help with medical costs and expenses? I would love to hear who you have used and how it worked for you.
I have been a member of Christian Healthcare Ministries (www.chministries.org) since 2008. I have since had two babies and a week-long hospitalization and my experience has been wonderful! My costs for each of my pregnancies was less out-of-pocket than I would have paid on my husband’s insurance (which is provided by his job.) My hospitalization costs totaled $45,000. After discounts from doctors and hospitals (which I got because I am self-pay as far as they are concerned – CHM reimburses members, not healthcare providers), my out-of-pocket costs were about $1200, almost all of which was an ambulance ride, which is not covered by CHM. All of my bills from the hospital itself were completely discounted or “shared” by CHM!! For this, and the blessing of knowing that my money each month goes to help other believers pay their bills, I pay $85 a month!!!! When our whole family (of 6) was with CHM, we paid only $255 a month. It has certainly been a wonderful option for our family!
Dave Ramsey’s math is not right because everyone will NOT pay same premiums! If you are older or not as healthy, you can be charged up to three times more than a younger, healthier person. It is dangerous to share videos like this that are inaccurate.
Hey, We have been using samaritans for 2 yrs and really like it. I had one last yr and my husband had a back injury and they covered 100% with no deductible. We pay $400 for a family of 6. I was wondering if you decided on using samaritans or you took different route?
Its so funny you should ask now! My husband just went through a job loss and we were re-evaluating it again. I am so glad to hear you love it, I will get on that one this week. Any drawbacks or things you think I need to know?