Let’s face it: Health insurance is expensive. Not every person can afford it. People are shying away from traditional health insurance simply because they can’t pay the premiums.
Nonetheless, everyone needs money when medical emergencies arise. Have you considered bidding farewell to traditional health insurance and looking for alternatives?
Let’s talk about Medical health share plans. This post highlights why you should say goodbye to traditional health insurance and YES to the new-age health share plans. Dive right in to find out more about this subject.
Why is Traditional Healthcare Insurance a Major Headache?
Traditional healthcare insurance is a major headache because not everyone can afford it. When you enrol in a health insurance plan, the cost keeps increasing, which is a reason for major stress in people’s lives.
The hefty monthly premium makes you sweat. How will you cover the cost of education, daily food supplies, and the basics of life?
You need to go beyond traditional healthcare insurance. Sure, if someone can afford the expensive monthly premiums, they can go for it. But those who have no option of opting for traditional healthcare insurance need alternatives.
As you move forward, let’s highlight why health share plans are better for those who cannot afford the traditional ones.
How is Health Share Plans Better?
It is important to compare the two before opting for a health-sharing plan. While insurance guarantees you will get a certain amount when medical emergencies arise, there is a chance you have to run in circles to get the claim.
In medical-cost sharing programs, many people pool money to pay their medical costs or bills. As per people who pay for medical-cost sharing programs, traditional health insurance premiums are expensive.
However, there is no guarantee that one will get paid. The members are responsible for the medical bills, and most of these health share plans run on the trust factor.
Having said that, even traditional insurance money can be difficult to claim. It’s not as straightforward. Moreover, you have to pay more money towards the premiums.
Non-profit organizations run these medical health-sharing plans. People choose these plans because the monthly premium is lower. They don’t have the option of paying high premiums simply because they can’t afford it.
That’s precisely why people should opt for health share plans. At least you get some emergency funds when you need them without burning a hole in your pocket. Some of these plans also allow you to reach out to a doctor or a healthcare provider that offers discounted rates.
The only downside is that there are no legal contracts and the members are solely responsible. Monthly costs are generally $100 or lower, which is quite affordable to someone with no regular flow of income or a student.
You can look at the options and then choose the best.