Health Insurance costs are skyrocketing. If you are like me you can no longer afford traditional health insurance since the implementation of The Affordable Care Act. (Obamacare) What should you do? The short answer is to join Medishare. I did. My family and I save more than $10,000 per year in health care costs, and I couldn’t be happier. Click the link above, or read on for more information.
Why should we have Health Insurance?
Health insurance is there to cover major health events. If you break your leg, or have a heart attack, insurance should be there to take care of you.
Health insurance should be like any other insurance. You buy auto insurance in case you wreck your car. Auto insurance isn’t for routine maintenance like oil changes or new windshield wiper blades. You can’t buy car insurance after you have a wreck. It has to be bought before there are any problems when your car is in good condition.
This is what health insurance was made for. It is supposed to be bought by responsible healthy people who want to make sure that they are taken care of if something major or catastrophic happens to them. It is there to protect them when the worst happens.
What has happened to Health Insurance Costs?
Before Obamacare (in 2010) I had a personal health insurance policy. My company did not offer insurance so I had to find a policy on my own, which was usually more expensive than through a group. My policy had a monthly premium of $415 per month with a deductible of $5,000 for my family of four.
So I paid $415 a month no matter what. If the medical expenses of me and my family exceeded $5,000 in a year, my insurance would cover the costs over $5,000.
At the end of 2015, my existing plan was cancelled and I was forced to look for new insurance. The cheapest insurance option that I was able to get that met the Obamacare guidelines was a Bronze plan. The plan had a monthly premium of $1,550. The deductible was $12,000 for each of the 4 members of my family.
That meant that the health insurance policy would only start paying for medical expenses if each member of my family had more than $12,000 in medical expenses. This policy was more than 3 times as expensive and I had far less coverage.
That is when I started looking for a different option, and I found Medishare.
What is Medishare?
Medishare is not health insurance. Instead, it is a group of like-minded people who share each other’s medical expenses. You pay them money monthly, like an insurance premium. That money goes towards paying another members’ medical expenses. When you have medical expenses, the money from other members is used to pay for your expenses. They have been around since 1993 so you know that their system works.
Medishare only pays for major expenses. In my case, expenses above $5,000. It does not pay for routine doctor visits. No oil changes and wiper blades. This is what health insurance is supposed to be. Be responsible and take care of yourself and your family.
They also have a service called Telehealth that I have used a few times. You schedule a time that is good for you, and a doctor will call you. The doctor will ask you about your symptoms and then let you know if you should physically see a doctor, or if it is something minor. They can also issue prescriptions for basic problems. This is included for free.
My Savings with Medishare
Instead of the $1,550 a month for Obamacare health insurance, I paid $487 a month for Medishare.
Over the first year I saved $12,756. This seems incredible to me. Obamacare was supposed to save me money, but instead it would have cost me almost $13,000 more each year.
When you enroll in Medishare there are different deductible amounts that you can choose. I chose the $5,000 deductible because it was close to the plan that I was used to. Monthly payment amounts vary by how many people are covered and how old you are. Medishare gives you a discount if you are healthier (Under a certain BMI). I didn’t get the discount, but I am working to lose weight so that I will be able to pay less each month. That is what being responsible is all about. If I am responsible and lose weight, I will be able to lower my monthly insurance costs because a person that is healthy does not need to visit the doctor as often.
Why is Medishare so Much Cheaper than Insurance?
So, how can Medishare do this? How can it be so much cheaper?
Simple. Faith based, free market principles. As a responsible Christian contributing to a group, you don’t have to pay for high risk activities. You don’t have to pay for drug addictions. You don’t have to pay for abortions. Other members are not going to go to the emergency room when they have a cough. The other people in your group are responsible citizens like you are.
You are saving so much money because you are not paying for irresponsible people. You are not paying for people who only decide they need insurance once they are sick. And you are not paying for all of the bureaucracy of a large insurance company that is heavily regulated by the government.
Medishare is a great money-saving option if you are responsible, and basically healthy. It is exempt from the Obamacare penalties and should be around no matter what Congress decides to do with health insurance. My family has been a member since 2015, and I wouldn’t change a thing.
Visit MediShare for more information or to sign up.