The section of the Affordable Care Act (ACA) that penalizes people who refuse to buy health insurance may have sparked more debate than any other element of the bill. The individual mandate is how most people refer to this statute section.
According to the ACA website, the government allows for a number of exclusions from the penalty. While the website Healthcare.gov goes into great detail about financial hardship exemptions, it only acknowledges briefly that membership in specific groups might also help people qualify for an exemption. People who belong to particular religious groups, for example, may look into faith-based medical cost-sharing groups, often known as healthcare sharing ministries or simply health ministries, as a health insurance option.
Take a look at how health insurance alternatives for small business works and how they differ from ACA-compliant big medical policies to see if they could be a decent option for health insurance.
Why do People Like to Consider Medical Cost-Sharing as the Best Alternative?
According to a description of medical cost-sharing groups released by National Public Radio, these health insurance alternatives do not work like health insurance. On the other hand, health ministries operate more like a co-op or a peer-to-peer funding organization. Each month, participants in the group contribute a set amount of money. As a result, the group determines which medical needs the support. Some consumers prefer medical cost-sharing organizations to other health insurance options for the following reasons:
- Average families may pay rates of less than $300 per month, according to the medical director of one of these healthcare insurance alternatives, allowing consumers to save money. The organizations may also be able to assist in the payment of expenditures that major medical insurance does not generally cover. Additional advantages could include assistance with funeral and adoption costs. During an illness, the group may also provide psychological, spiritual, as well as other kinds of help.
- Furthermore, these health insurance options may appeal to persons who have religious objections to some services that ACA plans are required to offer as mandatory benefits. Some people, for example, object to paying into a medical plan that covers specific types of birth control. All non-grandfathered, ACA-compliant medical insurance, unless exempted, must provide certain mandatory benefits.
You must also know certain rules that are followed by health care alternative plans like medical cost-sharing. A Christian medical cost-sharing association, for example, may require members to be members of specific religious groups. They have the power to exclude people who do not belong to these religious groups. You must quit living a lousy lifestyle like smoking, drinking, or performing other activities that the religious group does not allow. Well, all we would say is if you want to keep healthy, joining an alternative plan which promotes health and saves you from unnecessary trouble is the best thing possible! So, what are you waiting for? Call us today and get a detailed description of what our services are!