Is a Health Care Sharing Ministry Right for Me?

LAS VEGAS - Sept. 7, 2021 - PRLog -- For households that are buying their own health insurance, the monthly premiums for even the most basic coverage can be crippling. In many cases, a family's health insurance premium may be their highest bill, surpassing even their rent or mortgage payment. Fortunately, there is a cost-effective alternative to traditional health insurance that allows families to enjoy coverage without having to significantly alter their monthly budget.

Although once considered a fringe option for those unable to or uninterested in purchasing traditional health insurance, Christian ministry programs have experienced a surge in popularity in recent years, adding millions of subscribers. These programs are based on the biblical mandate given in Galatians 6:2 to "bear one another's burdens" by connecting Christian families and individuals with others who share their beliefs and values and allowing them to share medical expenses.

What Is a Health Care Sharing Ministry?
A health care sharing ministry is a faith-based organization that makes it possible for like-minded people of faith to share each other's medical expenses. To be considered an HSM, the organization must fulfill five requirements:

-It must be a non-profit organization
-Its members must share common ethical or religious beliefs, regardless of which state they live or work in
-Its members must be allowed to stay in the program even if they develop a medical condition or are injured
-It had to have existed in December 31, 1999
-It must permit an independent CPA to perform an annual audit

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