Fortunately, a lot of Coloradoans have found relief by making the switch to a health care sharing plan. This low-cost insurance alternative is breaking the shackles of one-size-fits-all ACA coverage, freeing people to take more control of their health care while paying a lot less in the process.
Colorado’s new trend in affordable health care
The Affordable Care Act (ACA) tried to make it easier for more people to get coverage. But there was one problem: not everyone qualified for the Premium Tax Credit. Without that credit, paying for unsubsidized health insurance is close to impossible.
In 2020’s health insurance open enrollment period, 32% of enrollments were for health sharing plans.
What does that tell us? Health sharing plans are not only here to stay, but they’re already changing the game for a lot of people.
Don’t qualify for an ACA premium tax credit?
If you qualify for an ACA tax subsidy, then you might be able to afford a market health insurance plan. If that’s the case, then sticking with traditional insurance is probably the best option.
But for those who don’t qualify, paying $2,000 a month for a family insurance policy is out of the question.
If you earn more than the ACA subsidy level, health sharing can save you thousands of dollars a year. But that’s not all: There’s one health sharing plan that is creating even more value for Coloradoans.
OneShare Health: The #1 most popular health sharing plan in Colorado
Although relatively new to Colorado, OneShare Health has emerged as one of the most popular plans in the state. OneShare is what’s known as a Health Care Sharing Ministry (HCSM), which is an organization dedicated to sharing health care costs among its members.
Like other HCMS, OneShare Health asks that its members sign a Statement of Belief based on the Christian Faith. Once you’re enrolled, simply pay your monthly contribution, and you will be eligible to have your health expenses reimbursed.
Just like traditional insurance, there are three plan types to choose from. The highly popular Catastrophic Plan is only $115 per month, well more than half the cost of unsubsidized insurance.
Pros |
Cons |
|---|---|
 Preventive services are covered after 90 days |
 There is a 2-year waiting period before pre-existing conditions are eligible for sharing |
| Choose any doctor or provider you like |
Not all medical expenses are eligible for sharing, specifically those with a higher risk of injury |
| Full suite of cutting-edge discount services, including dental, vision, lap work, prescriptions, and more |
Runner up: MPB Secure: Colorado’s only HSA-friendly healthshare plan
Because most health sharing plans don’t cover preventive care, members are not eligible to open Health Savings Accounts (HSA). But with MPB Secure, it’s not only possible to set up a personal HSA, but you also get access to all 64 preventive and wellness services outlined in the ACA.
This means free flu shots, annual checkups, health screening tests, mammograms, colonoscopies, and more. This is in addition to the simplistic, easy-to-understand medical cost sharing offered by the base plan.
Unlike many health sharing organizations, MPB Health does not decline anyone for either previous conditions or religious beliefs.
Pros |
Cons |
|---|---|
| Everyone is accepted |
More expensive than OneShare Health |
| Is structured to work with an HSA |
Not all medical expenses are eligible for sharing (like all health) |
| No network restrictions, even when traveling abroad |
|
| Comes with a Minimum Essential Care Plan (MEC) for preventive services |
Find out how much you can save by switching to Health Care Cost Sharing
Health care cost sharing is not for everyone. But if you’re one of the many thousands of Coloradans who is forced to pay for unsubsidized ACA insurance, then it might be time to make the switch.
Your Personal Benefits Manager can help you find a sharing plan that best suits your needs. Call 800-913-6381 to schedule no-cost consultation, or click here to run an instant quote.
Misty Berryman is a Personal Benefits Manager at ColoHealth. Her aim is to help you make smart and informed healthcare coverage decisions that will fit your needs and budget. Read more about Misty on her Bio page.
