What are health care sharing ministries (HCSMs) and how do they work as an alternative to traditional health insurance? What are the benefits and downsides to participating in an HCSM? Do they qualify as minimum essential coverage under the ACA?
What are health care sharing ministries (HCSMs) and how do they work as an alternative to traditional health insurance? What are the benefits and downsides to participating in an HCSM? Do they qualify as minimum essential coverage under the ACA?
Read less
Health Care Sharing Ministries (HCSMs) are nonprofit organizations where members share medical expenses. Participants pay a monthly "share" instead of insurance premiums, and the funds are distributed to members with eligible medical needs. Benefits include lower costs, faith-based values, and flexiRead more
Health Care Sharing Ministries (HCSMs) are nonprofit organizations where members share medical expenses. Participants pay a monthly “share” instead of insurance premiums, and the funds are distributed to members with eligible medical needs. Benefits include lower costs, faith-based values, and flexibility. Downsides include limited regulatory oversight, potential coverage gaps, and non-guaranteed sharing. HCSMs generally don’t qualify as minimum essential coverage under the ACA.❤
See less