Options like Health Care Sharing Ministries (HSCM) are becoming more popular because many people can afford them. Jericho Share looks at the good and bad parts of each of these program choices.
Health sharing programs are flexible plans that let people use their own money to help pay for each other's medical costs.
Pros of the programs at HCSM
HCSM programs are better than traditional health insurance in a number of ways, like being more flexible and letting members help each other out by sharing costs.
HCSMs also help people save money on health care costs by getting the most out of their resources. Most of the time, a member can only give so much to the program. So, people with lower incomes can afford to pay for a more complete program to help pay for their medical needs. If they had to pay for it on their own, they would not be able to.
HCSMs help members who don't have a lot of money to pay for their medical costs if they need to. It can keep serious health problems from getting worse and costing a lot later on.
HCSM Programs' Downsides
But not all HSCMs are made the same. Some may have rules about who can join, like making a certain amount of money or believing the same things as the group.
Also, just like any other health program, they can have some problems. For example, they might not pay for all of their medical bills together. And you might have to pay for more of your own medical care than you would with a traditional insurance plan.
What's the deal?
The Health Care Sharing Ministry at Jericho Share is a 501(c)(3) organization that does not make money. They offer flexible and inexpensive ways to share care for daily needs. Some of the things that come with being a member are:
Go to the office
Services for health and safety
Inpatient Hospitalization
The group is made up of individuals and families who share the same religious and moral beliefs and work to make others more gracious and kind.
Through Jericho Share, people help pay for each other's medical needs by contributing to the fund. Members must agree with the Statement of Religious and Ethical Beliefs and understand that all medical needs are handled based on the Member Information Guide (MIG). This means that members can get good health care at a reasonable price.
The goal of the program is to give members high-quality health care at prices they can afford. The community also makes sure that partners are treated well by the organization.
Members of Jericho Share give money to the group on their own time. The health care sharing membership steps in to help when one of the members needs medical care. It cuts their costs for eligible medical needs by a lot.
What are HCSMs?
A Health Care Sharing Ministry, or HCSM, is a tool that members can use to get medical care. It is a different way to deal with insurance than traditional policies.
Health care sharing ministries aren't insurance companies, but they are groups of people who share a set of moral or religious beliefs and share medical costs based on those beliefs.
The goal of the program is to help members share their health care costs and lower their overall costs.
People from all over the country can join Jericho Share. It opened on September 1, 2021, and now more than 125 people work there.