Health sharing programs have exploded in popularity over the past several years, especially among self-employed individuals and families looking for alternatives to traditional health insurance. But before you make the switch, it's important to understand exactly what health sharing is — and what it isn't.
Health sharing ministries (also called health sharing programs) are organizations where members voluntarily share each other's medical costs. Popular programs include Christian Healthcare Ministries (CHM), Medi-Share, Samaritan Ministries, and Sedera. Members pay a monthly "share" amount that is distributed to other members with eligible medical needs.
The biggest advantage of health sharing is cost. Monthly shares are typically 30-50% less than traditional health insurance premiums. For a healthy family of four in Idaho, a health sharing program might cost $500-$700 per month compared to $1,200-$1,800 for a comparable traditional plan (before subsidies).
However, health sharing programs are not insurance. This is a critical distinction. They are not regulated by the Idaho Department of Insurance, they don't guarantee payment of claims, and they can deny sharing for pre-existing conditions (typically for the first 1-3 years of membership). They also may not cover certain services like mental health, maternity (for unmarried members), or preventive care.
Traditional health insurance, on the other hand, is regulated and must cover essential health benefits including preventive care, mental health services, maternity care, and prescription drugs. Insurance companies are legally required to pay covered claims, and they cannot deny coverage for pre-existing conditions.
So who is health sharing right for? Generally, it works best for healthy individuals and families who have a low risk of major medical events, are comfortable with the faith-based requirements many programs have, and want to save money on monthly costs. It's less ideal for people with chronic conditions, those who need regular specialist care, or anyone who wants the regulatory protections of traditional insurance.
The best approach is to compare both options side by side with a knowledgeable broker. At Health Insurance Idaho, we're experienced with both traditional insurance and health sharing programs. We'll help you understand the trade-offs and find the option that truly fits your family's needs and budget. Book a free consultation to explore your options.
