What are Health Care Sharing Ministries
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What are HCSMs?
Health Care Sharing Ministries (HCSM) specialize in medical cost sharing programs and they are everything insurance is not. These programs are designed with the members medical needs in mind. If you are healthy and live a healthy lifestyle, become part of a health care sharing community and reduce your monthly cost by 40 to 65 percent.
The health care sharing community is comprised of likeminded, faith-based individuals who recognize that these programs are not insurance and voluntarily share in one another’s medical burdens.
Are HCSMs recognized on a state and federal level?
Congress recognized the legitimacy of HCSMs in 2010 and granted those who meet the requirements exemption from the individual mandate in the Affordable Care Act (ACA). The following is the official Affordable Care Act definition/ requirement of Health Care Sharing Ministries.
- Which is described in section 501(c)(3) and is exempt from taxation under section 501(a).
- Members of which share a common set of ethical or religious beliefs and share medical expenses among members in accordance with those beliefs and without regard to the State in which a member resides or is employed.
- Members of which retain membership even after they develop a medical condition.
- Which (or a predecessor of which) has been in existence at all times since December 31, 1999, and medical expenses of its members have been shared continuously and without interruption since at least December 31, 1999.
- Which conducts an annual audit which is performed by an independent certified public accounting firm in accordance with generally accepted accounting principles and which is made available to the public upon request.
The Health Care Sharing Ministries that we represent meet all the above requirements and are recognized under the ACA.
How are HCSMs so much affordable?
HCSM programs are meant for the healthy individual who consistently asked themselves the question, “why does my health insurance cost so much?” We all know there is truly not a “one size fits all” solution when it comes to health care. At times individuals are left paying for “coverage” they don’t need at a price tag similar to a mortgage.
HCSM programs are designed to put the power of choice back on the hands of the consumer. They are more affordable because depending on the program selected, the individual might have waiting periods for major services, restrictions on preexisting conditions and several life habits that will not be deemed sharable by the community. On the other hand, depending on the program there are many day one services rendered, like Telemedicine, Preventive, PCP, Urgent Care and Emergency room visits.
It is important for the member to know and understand the program that they have enrolled in. A member guide is provided upon enrollment with a completed guide of how their respective program works, what services are rendered and any restrictions.
Ensurian is a national distributor of health care sharing ministries (HCSM) and their affordable faith -based health care programs.
Our systems make it easy for clients to compare programs and enroll in those that best suit their overall health and financial goals.