The ColoHealth Health & Wealth Newsletter
February 2024
Vol. 14, Issue 3

Health Sharing: Understand Your Plan

After more than 30 years in the healthcare industry, I’ve become a strong advocate for health sharing plans.

Health sharing programs are an affordable alternative to traditional health insurance and have many advantages:

• Cost Savings – Lower monthly contributions compared to traditional health insurance premiums, making them a more affordable option.
• Flexibility and Choice – Choose your own healthcare providers – no need to stay within a predetermined network!
• Community Support – Join a community of like-minded individuals who share a commitment to helping each other with medical expenses.
• Transparency and Control – More upfront about how funds are utilized, and provide a larger variety of care options.

But each plan has different features and benefits, so it’s essential to understand all the details!

Take Control of Your Own Health!

• Understand Your Benefits: Read your program documents carefully to know what medical services are covered. 
• Visit the Plan’s Official Website: Most health sharing plans have detailed information on their websites, including FAQs, member guidelines, and coverage details.
• Review Member Guides or Handbooks: These documents often contain comprehensive information about the plan’s rules, coverage limits, and procedures.
• Utilize Concierge Services: Most health share programs offer concierge services to answer questions and assist you. Make sure to take advantage of these services – they’re there to help!
• Read Reviews and Testimonials: Look for reviews or experiences shared by current or former members to understand the plan’s practical implications.
• Contact Your Personal Benefits Manager (PBM): If you have any doubts or need clarification,  reach out to your PBM who sent you this email! They’re there to assist you and make sure you fully understand your plan’s benefits and limitations.

Eligibility and Health Sharing Plan Features

Plans generally require members to be in good overall health and lead healthy lifestyles. 

Sometimes they cater to specific faiths or belief systems. Enrollment criteria helps keep member costs low.

Many programs include:

• Major medical care including visits to primary care physicians, specialists, and urgent care
• Unlimited telehealth services 
• Mental health counseling
• Emergency room, ambulance, and hospital services
• Diagnostic services like X-rays, imaging, and lab work
• Alternative health treatments
• Discount prescriptions

But it’s important to understand the differences between plans, so I have provided a few highlights from eight of the most popular:

1. netWell Health Share stands out as one of the best health sharing programs, thanks to its budget-friendly member contributions, round-the-clock telemedicine access, and three distinct membership levels that offer genuine choice to consumers.
2. HSA Secure is the only major health sharing plan that enables tax-deductible contributions to a Health Savings Account (HSA). It combines a special HSA-qualified Minimum Essential Coverage (MEC) insurance plan with an affordable catastrophic health share component. The combination of a comprehensive health plan with the tax benefits and savings potential of an HSA make this an amazing option.
3. Care+ is similar to the HSA Secure plan, has nearly all the same features and benefits and anyone can join. But it doesn’t allow you to make pre-tax contributions to an HSA.  
4. Altrua Health Share features four membership levels with a simple signup process and unlimited telemedicine.
5. Medi-Share is an explicitly Christian plan with a high member satisfaction rating. It offers telemedicine and savings on dental, vision, and prescription drugs and is one of the most reliable health sharing options available.
6. OneShare Health offers two plan levels: Classic Crown for more comprehensive coverage and Catastrophic plans for major medical expenses only.
7. Sedera Health is a good program for those with pre-existing conditions. There are no provider network restrictions or lifetime limits. It offers telehealth and wellness support.
8. Universal Health Share offers seven different cost-sharing programs with unlimited telemedicine consultations. It provides unique fixed-rate sharing limits on specific medical events that helps lower overall costs.

Do you have any questions about your current plan, or would you like to know more about your options? 

Your Personal Benefits Manager is here to help!

Stay informed, and stay healthy!

To Your Health and Wealth,

Wiley P. Long III
President- ColoHealth

The ColoHealth Health & Wealth 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.