Are You Struggling to Squeeze Your Family’s Private Health Insurance Costs into the Monthly Budget?

If so, you should consider enrolling in a health share organization.

While not technically insurance, health share organizations offer many of the same benefits as health insurance.  They also qualify as an exemption to the federal health insurance mandate, so enrolling in one typically means you can avoid the tax penalty associated with not having insurance (consult your tax professional to make sure you qualify).

OK, but What Is a Health Share Organization?

In short, health share organizations are groups of people who mutually agree to share each other’s health care costs.  For the most part, they look and feel like insurance, but be assured they are not.  There’s a “monthly share amount” (i.e. – premium) and an “annual unshared amount” (i.e. – deductible), and they reimburse a variety of health insurance costs above the “annual unshared amount.”

So why Aren’t They Insurance?

When enrolling as a member of a health share organization, there’s no guarantee of reimbursement for your health care costs.  Even though many health share organizations have a long-standing track record of meeting their member’s health share requests, there’s still no guarantee they will be reimbursed.

Are Health Share Organizations Right for You?

After much consideration, my wife and I decided to join a health share organization last year and have had great results thus far.  Feel free to reach out directly to hear more about our experience.

Even still, Reliant Wealth Management does not formally recommend forgoing insurance to our clients due to the unknown nature of future reimbursements associated with health share organizations.   We do, however, think they are worth your consideration.

If you feel compelled to do some research, here are a few health share organizations to consider: