Christian Health Insurance: Dave Ramsey Thoughts About This.
Christian Health Insurance: Research has proven that health insurance is now a notable and most recognize sector across the nation, with the average estimation premium for individuals equal to about $440/month and the average premium for a family equal to about $1,168 per month.
These skyrocketing prices have left many individuals and families looking for ways to fit what they consider to be one of life’s essential bills into their already tight budgets.
With little relief in sight, those who can’t afford or refuse to pay the high cost of health care are looking for alternatives to help protect their families against both expected and unexpected health expenses.
Reader Luke H. has written in to point out that Mr. Ramsey has in fact discussed Christian healthcare sharing ministries, and Medi-Share specifically, on his site. Before we get started to what ‘Dave Ramsey’ has to say about Christian Health Insurance. Let’s give you a brief explanation;
What Medi-Share Means
People are always asking me if it is Christian Medical Insurance. Simply put, no Medi-Share isn’t insurance, but most people wouldn’t really be able to tell a difference.
According to their website:
“Medi-Share is not “Christian insurance.” Rather, it is a health care sharing program facilitated by Christian Care Ministry (CCM) through which a community of believers voluntarily come together to share the cost of one another’s medical bills. Members choose to share with each other, governed by member-voted guidelines. Although there is no guarantee of sharing, Medi-Share members have been faithfully sharing each other’s medical bills for more than 20 years, trusting the Lord to provide in their time of need through the voluntary gifts of other believers. Since 1993, more than $1.5 billion in healthcare costs have been saved through sharing or discounting.”
What does Dave Ramsey, a long-trusted expert in business and money management, think about Christian health insurance? Is it a good idea? Ramsey’s initial advice to citizens considering Christian health insurance is that they must first and foremost recognize that it’s not technically considered insurance, even though in many ways, these organizations operate in much the same way.
Christian healthcare plans, as he points out, are not regulated, nor are they “backed up by the insurance commissions risk pools.” That said, these insurance-like programs aren’t all bad, and according to Ramsey, many have a proven track record of reliability.
If shopping for one, he recommends looking for an organization that has been around for a significant period, specifically mentioning Christian Healthcare Ministries, which has a good reputation and has been in business since 1981.
In addition to Ramsey’s recommendation, consumers may want to take a look at Samaritan Ministries (1995), which is a highly praised, long-standing organization within the healthcare sharing ministry community.
Advantages of Joining Christian Healthcare Ministries
The advantages of joining CHM are many:
Affordable: Monthly cost for a family capped at $450. No rate increases since 2008.
Biblical: Based on the New Testament church (Galatians 6:2, Acts 2 & 4)
Credible: Better Business Bureau Accredited Charity
Dependable: Shared more than $3.5 billion members’ medical bills
An eligible option under the national healthcare law
Faithful: Has served Christians since 1981
Groups: Can save groups up to 50%
Financial advisors Dave Ramsey, Larry Burkett, and Howard Dayton have told us we need to have a small reserve of cash set aside to plan for unexpected emergencies. CHM members agree to shoulder the responsibility for smaller medical events and share bills for major medical events among fellow CHM members.
Other Advantages of Joining:
Generous maternity program
Choose your own healthcare providers
No annual fee or application fee
No one is dropped or denied participation due to medical conditions
Costs are not adjusted based on medical conditions or history
Medical bill discounts often eliminate out-of-pocket expenses
Programs for catastrophic medical bills and pre-existing conditions.