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Health Insurance Facts
- Average unsubsidized family premium: $900 – $2200
- Coverage is mandated and approved under the Affordable Care Act (ACA)
- Covers all 10 “essential health benefits”, including maternity coverage, mental health and substance abuse, prescription drugs, preventive services
- Accepts anyone, regardless of pre-existing conditions
- Backed by a financially-rated insurance company and approved at the federal and state level
- Unlimited lifetime benefits
- Eligible for subsidies for those earning < 400% of the federal poverty level
- Most plans have limited doctor and hospital networks
- Can only enroll during Open Enrollment, Nov 1 – Dec 15 in most areas, or if you qualify for a special enrollment period
- Average family premium: $450 – $750
- NOT health insurance, rather a group of like-minded people sharing medical expenses
- Members are exempt from requirement to carry ACA health insurance
- Members are exempt from ACA tax penalties
- Some healthshare programs cover preventive services.
- Will not cover pre-existing conditions for the first couple years
- Go to any doctor or hospital (with most programs)
- Enroll any time
- Costs are typically less than half the cost of health insurance
A Word from Wiley Long – HSA for America President
How to Legally Opt Out of Obamacare with Faith-based Sharing Plans
Because rates continue to skyrocket for people who are not receiving subsidies to help them pay for their health insurance, many of our clients are choosing to join a healthshare plan instead. These faith-based plans typically have a contribution amount less than half the cost of health insurance. Because they are an option written into the law, members of health share plans do not face any tax penalties for not carrying a government-approved health insurance plan. If this type of plan works for you, the cost savings could be thousands of dollars a year.
Latest Articles From America’s HSA Blog
Healthcare sharing ministry members are exempt from paying the penalty for not having insurance as part of the individual mandate of Obamacare. Are payments to cost-sharing ministries tax deductible?
Healthcare sharing ministries are non-profit organizations that facilitate the sharing of qualifying medical expenses among its members. Healthshare procedures vary by ministry—in some, you send your payments directly to other members, while in others, members never have contact with one another.
So, how can you trust other members—strangers, people likely from another state you have never met before—to help pay for your medical needs when your health is so important?
I have been very impressed with Mike and his quick responses to any questions I have had, so I am hopeful going forward. I am glad to have found something that works with my budget, which I was very concerned about with the marketplace.
In Iowa, there is only 1 provider left, and they were asking for an astronomical increase in premium that I was afraid I would not be able to afford and still pay my bills. It’s not good to be the only game in town, because without competition they can charge whatever they want without caring about the people they are supposed to be serving, so again, thank you for giving me an option called healthshare programs.D. Nelson
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Disclaimer: All information on this website is relayed to the best of the Company's ability, but does not guarantee accuracy. Information may be out of date. The content provided on this site is intended for informational purposes only and does not guarantee price or coverage. This site is not intended as, and does not constitute, accounting, legal, tax, and/or other professional advice. Determination of actual price is subject to Carriers.