Health-Sharing Plans
Tennessee Health Sharing Plans
Medical expenses are the top cause of bankruptcy in America. While health insurance can provide a financial net for your healthcare costs, many people in Tennessee are turning to non-insurance options to cover healthcare costs. If you do not want a typical health insurance policy, you have the option of participating in a health-sharing program. Health share plans serve as health insurance alternatives, in which a group of individuals share one another’s medical expenses.
Why Consider Health-Sharing?
A lot of people choose to participate in health share plans due to the several economical benefits health-sharing plans can have over typical health insurance. Tennessee health share plans are typically very economical, usually offering good discounts and often very low premiums. Additionally, many health-sharing programs are faith-based, connecting you with a network of individuals who are praying for and with you.
Many people who get involved in a health share program may feel priced out of health insurance, are frustrated with or feel constrained by their current health insurance provider, or are looking for ways to manage their healthcare expenses in a way that is not linked to their current employment.
Health-Sharing FAQs
Are health share plans allowed under federal law?
Health care sharing ministries are included as a viable healthcare option and exempt from the federal individual mandate and tax penalties under the Affordable Care Act (ACA). See Section 1501, page 148 of the ACA to learn more.
Do health-sharing plans provide the same coverage options?
Health share plans usually have restrictions for sin-related issues. For example, if one of your children became pregnant out-of-wedlock, things could get complicated with some plans. Though some plans do assist in arranging for adoption or maternity services, many do not cover maternity expenses for a child conceived out of wedlock. While this may not be a concern for you, it is good to be aware of the restrictions sharing plans may come with. If you speak with one of our agents, we can help you find the best option for your needs.
Will I have enough coverage?
That depends on the health-sharing program you decide to go with. Many health share programs are smaller with fewer members and thus a smaller pool of money. This could be an issue in the case of a very large claim. However, there are some programs that are much larger and should not pose any issues. If you have any concerns or questions about this, feel free to call our office to speak with one of our agents.
Can I see any doctor I want? Is there a network of providers?
Again, that depends on the health-sharing program you decide to go with. Most of the health sharing plans do not have a provider network which means you are not restricted to certain providers. The largest health sharing organization does have a network of providers which can help lower your costs. Almost every Health Sharing Organization has a team available to help you make sure you get the best value for your health care dollar.
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Participate in a Health-Sharing Plan Today!
Ultimately, whether you participate in a sharing group or not is up to you. There are certainly benefits to doing so that may make it right for you! However, it’s important to be aware of all the surrounding issues to make sure you are making a wise decision to protect yourself and your family. At Veritas Insurance, we offer individual and group medical cost sharing programs through Sedera and Medi-Share. If you are considering participating in one of these Tennessee health share plans or would like to learn more, give our Johnson City office a call at (423) 292-4142. One of our experts will be happy to help you with any questions you might have.
If you would rather go with a more traditional health insurance policy, we can help you with that too! We have Affordable Care Act Certified insurance professionals who can help you through the process. Whether you are interested in health insurance or health share, give us a call so we can help you out!
Veritas Risk Management & Insurance Services is an independent insurance agency located in the Tri-Cities. We offer comprehensive and trustworthy coverage for your personal or business insurance needs. Our office is directly across from Ingles on N Roan Street in Johnson City, Tennessee. Call us today at (423) 292-4142 for a free quote, or email help@veritasrm.com.
