The ColoHealth Health & Wealth Newsletter
September 2021
Vol. 11, Issue 11

What’s the Best Medical Cost Sharing Plan?

As health insurance professionals, the fact that so many Americans are switching to Medical Cost Sharing Plans is hardly a surprise. Over the last few decades, marketplace health insurance plans have become more expensive, more complicated, and less flexible.

This is made worse by the fact that there are some politicians that would prefer that we all just crowd into the same cramped public option, without any consideration of what the individual actually needs.

This is why health sharing plans have become popular. So popular, in fact, that there are now more options than ever before, both in faith-based and non-religious forms, all at a lower price than unsubsidized insurance.

Am I in the Right Health Sharing Plan for Me?

Whether you’re a newcomer to medical cost sharing or you’ve been enrolled for years, it’s always a good idea to stay aware of all your options. Like insurance plans, there are new healthshare programs starting up all the time, and new program options being introduced regularly.

If you’re happy with your current healthshare plan, then there is really no need to make the switch. But if you are curious about finding something either more comprehensive or more affordable, it never hurts to take a look. Just use the number below to call your Personal Benefits Manager.

Can I Get a Lower Monthly Cost on Health Sharing?

If you’re looking to bring down your monthly expenses, and fast, then switching into a different plan is an effective way to get that done. By choosing an option with a higher out-of-pocket cost, it’s possible to get a much lower monthly contribution rate. But this also means that if you get sick or have an accident, you’ll be on the hook for much more before cost sharing kicks in.

Some health shares base the contribution amount on age, while others do not. If you have “aged-up” into the next category, there may be a better value elsewhere. 

Which Health Sharing Organization is Best?

The best health sharing company for you is going to depend on a number of things, including your medical needs, your personal beliefs, and your budget. If your Personal Benefits Manager helped you pick out a health sharing plan quite recently, then there’s a good chance that you’re already in the right plan.

If it’s been a while since you’ve compared options, there might be some new programs worth looking at.

Here’s a list of some of the programs that we work with, and some notable features for each:

• Altrua: Very simple signup, great telemedicine and counseling benefits
• MPB Health: The only health sharing plan that can be configured to be HSA qualified
• Trinity HealthShare: Trinity offers specialized sharing plans for dental care and Rx drugs
• MediShare: Offers a discount of up to 20% if member health incentives are met
• Liberty: Liberty consistently gets high marks from our clients for their prompt and courteous support team
• OneShare Health: OneShare has some of the lowest monthly contribution amounts

Pairing Your HealthShare Plan with Direct Primary Care (DPC)

The benefit of a health sharing plan is a low monthly cost for emergency care protection. But health sharing plans often lack the routine and preventive care benefits that we need to stay healthy.

Direct Primary Care (DPC) memberships can provide that kind of outpatient care, for a low monthly cost. By pairing a DPC membership with a health sharing plan, it’s possible to build a solid, rounded healthcare strategy while still saving money over insurance.

MPB Health offers a health sharing plan that is specifically tailored to work alongside an existing DPC arrangement. If you’re already enrolled in DPC but you’re not currently with MPB Health, then switching over could save you some money. Your Personal Benefits Manager can tell you more.

Think of Us as Your Personal Healthcare Strategists

If you’re happy with your current sharing program, then there’s no need to switch. But when you’re looking for a way to improve coverage or cut costs, we can almost always find a way to get that done for you.

Visit ColoHealth to schedule an appointment, or just give us a call.                 

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.

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