|March 2022||Maximixe your HSA e-Newsletter||Vol. 18, Issue 6|
How Healthshare Plans & HCSMs are Bucking the Trend of Surging Healthcare Costs
Over the last year, we’ve seen prices shoot up for everything from electronic goods to kitchen essentials. But as a country, we’ve been watching the price of healthcare skyrocket for several decades straight, with those in charge not lifting a finger to help out.
Even worse, these people aren’t just standing in the way. They’re actively fighting against low-cost healthcare alternatives that could make a real difference for a lot of people.
State Officials Declare War on Health Sharing
Take healthcare cost sharing (Healthshare) for example. In the last two years, legislators and regulators in Connecticut, Colorado, Washington, and more have taken steps to place strict limits on healthcare sharing ministries. According to them, Americans shouldn’t have access to new alternatives for health sharing, but instead be forced into rigid, overpriced, and poorly fitting marketplace health insurance.
Time for these people to get out of the way. Americans need more options for healthcare, and they need it now. Health sharing plans should be embraced by state and federal regulators alike with the goal of reducing costs for Americans, while also creating a more transparent and competitive healthcare industry.
Not Everyone Needs Health Sharing Plans … Some People Really Do
Some people can afford really good health insurance. Many more cannot. And yet, we’re still being offered the same set of standardized health plans, even in the midst of a global health crisis.
Why would the same 4 or 5 health insurance plans work for the same 400 or 500 million people?
Creating a just healthcare system that works for everybody means increasing the number of options that are on the table, not decreasing them. More choice means more competition, and competition is the surest way to lower prices, whether we’re talking health insurance or the price of Sunday brunch.
Why Healthshare Plans Continue to Remain So Affordable,
Even in the Face of COVID-19
Health Care Sharing Ministries, or HCSMs, have received no small amount of criticism in recent years. It’s easy to think that this is just the health insurance lobbyists drumming up some drama to protect their profits. Without a doubt, there is some truth to that.
But the reason that people doubt HCSMs so much is largely because they don’t understand how healthshare plans work. They think that any health plan that is half the cost of unsubsidized insurance simply must be some sort of scam.
It isn’t that complicated. Health sharing plans are so much more affordable than many health insurance plans because:
- They often provide coverage for large and unexpected medical costs only, like ER trips and sudden illnesses.
- They are not required by law to provide the same preventive benefits as insurance plans. This makes them leaner, cutting out certain benefits that some people never use.
- They are not regulated like health insurance companies, which gives them the freedom to operate more like private business and less like a proxy of the federal government
Healthcare Freedom = The Freedom to Choose the Best Plan for You
Without a doubt, traditional health insurance continues to be the best option for a lot of people. Anyone who uses their plan a lot, for example, would be better off sticking with a marketplace insurance plan that has the specific coverage they need.
But for anyone who stays pretty healthy, or simply wants to wave goodbye to health insurance companies forever, should consider health sharing.
The most important thing is that the option continues to exist. Increasing options means increasing our healthcare freedom. To that end, the team here at HSA for America will continue that fight … with everything we’ve got.
To find out more about healthcare cost sharing plans, click here.
If you or someone you know is thinking about enrolling in a health sharing plan, call us at 888-888-8888. We’ll help you choose the one that’s a good fit for you.
Click here to schedule an appointment, or call 800-913-0172 to get started.
To your health and wealth,
Wiley P. Long, III
President - HSA for America
The HSA for America Maximize Your HSA Newsletter is published monthly and emailed to subscribers at no charge. Subscribe now to stay on top of the critical information you need to know about health insurance, healthshare plans and managing your finances to achieve financial security.
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