Faith-Based Programs
Faith-Based sharing programs provide a lower-cost alternative to a Qualified Health Insurance plan. A Faith-Based plan is not insurance. Most plans use the word "sharing" instead of insurance. A great feature of these programs besides their lower price point is the availability to enroll in a Faith-Based program outside of open enrollment.
These programs have a monthly amount that is paid similar to a premium. They usually require the member to pay an amount up front before services are shared financially by the plan sponsor and its members.
The amount required can be selected at the time of purchase with many options available. The largest amount of up-front sharing is around $10,000, with many options for lower sharing amounts. After your initial sharing most plans will pay for 80% of an approved expense and the member pays the remaining 20%.
To keep costs down these programs are organized differently than a Qualified Health Plan:
- Your program may have no or limited preventative services.
- Your program may require waiting periods for pre-existing conditions that may last from 1-3 years in length.
- Your program may have no or limited prescription drugs plans.
- Your program may have both a yearly limit and a lifetime sharing limit.
Check with our office to see if a Faith-Based program is the right choice for you.
Short-Term Insurance
There may be times when you need health insurance for just a small amount of time. Short-Term insurance is a tool for these moments. Most policies last around 90 days and some policies may be able to renew at least one time. Policy durations vary depending on state insurance rules.
A Short-Term plan does not cover pre-existing conditions. They are true insurance in the fact that you can pick a deductible and select your co-insurance amount. Your plan will likely have a lifetime limit.
Your premium is charged by the day versus monthly due to the limited time of the plan’s operation.
Please let us know if you would like to see if a short-term plan is a good fit for your needs.