Press Release (ePRNews.com) - Santa Ana, CA - Mar 30, 2019 - You may be considering leaving the traditional workforce to be an entrepreneur, freelance worker, or early retiree. Or maybe you already fall into one of those categories. Either way, a significant financial challenge facing you is medical insurance. Health Care Sharing Ministries (HCSM) are an alternative to traditional health insurance policies, and could be a practical solution.
One of the most common causes of bankruptcy in America is medical expenses. Because of that possibility, managing health care costs is a vital part of a risk management plan.
An emerging alternative solution to traditional health insurance has come to the forefront – Health Care Sharing Ministries .
HCSMs have existed for over 20 years. Recently, participation has more than doubled since the inception of the Affordable Care Act (ACA), commonly known as Obama-care. The number of people who participate in HCSMs falls well short to those with customary medical insurance. Not many people know much about Health Care Sharing Ministries. Some have never heard of HCSMs. One such HCSM for Christian healthcare UHSM healthcare sharing is leading the way.
Here a few things about HCSMs to aid you in determining if a HCSM is a good alternative to traditional medical insurance.
First you need to understand that Health Care Sharing Ministries are exclusive. They are based on the Christian tradition of voluntarily helping others in need and sharing one another’s burdens. Participation in a HCSM includes signing a statement of those shared beliefs.
This prerequisite to affirm your beliefs and agree to certain moral and behavioral standards is a key difference between any HCSM and health insurance.
An important distinction to make is Health Care Sharing Ministries are not medical insurance. Health insurance is a legally binding contract between an insurance provider and a subscriber. Under the ACA, insurers are required to cover specific mandated conditions and services, and may not legally discriminate based on preexisting medical conditions.
At first blush, Health Care Sharing Ministries can seem to work just like medical insurance. HCSM members pay a monthly share, as they would a standard insurance premium. HCSMs participants are required to share in an initial percentage of their own costs, similar to insurance deductibles. Participating in a HCSM exempts members from the ACA requirements to have medical insurance.
This can be a significant cost advantage to an HCSM and for those that participate in one. HCSMs limit or eliminate behaviors such as the use of alcohol, tobacco, illegal drugs, and sex outside of marriage as terms of participation. Thus, they can greatly control costs associated with these actions by covering only a lower risk and healthier population.
When accepting the terms of a HCSM, you are agreeing to moral and behavioral standards that you must abide by in order to obtain desired medical coverage. If enrolling a family, you are accepting consequences for not only your own behavior but for that of other individuals, including spouses and children, over whom you ultimately have no control.
Health Care Sharing Ministries are an alternative for those of a Christian faith who agree to the terms and conditions of their participation. They can help to lower medical care expenses and manage financial risks for their enrollees. They could be, however, inappropriate for others, based on their religious and moral beliefs, medical conditions and needs, or financial situation.
To find out more about christian healthcare UHSM healthcare sharing is the perfect place to start.
Source : https://uhsm.com