Is Medical Sharing A Low Cost Health Insurance Alternative?

The constantly rising costs of health insurance are a burden to many. Even worse, many people go without health insurance because of these high costs. This dire situation has led many to seek out cheaper versions of health care coverage or cost effective alternatives. One possible alternative is the idea of medical sharing.

What Is Medical Sharing And How Is It Different?

Medical sharing is where a group of people band together to share healthcare costs. Normally, health insurance policy holders share costs anyway. They all are a part of the same plan.

This means that every person pays more for the unhealthy lifestyle choices of others who are a part of that plan. Even those who live healthy lifestyles, the ones who do not drink, smoke, or who partake in other behaviors that pose a health risk, end up paying more because others on the plan do have unhealthy lifestyle practices.

Medical sharing operates differently. While all members of a plan contribute to the larger whole and have premiums that are influenced by this larger whole just like in a normal health insurance plan, these members band together. They make a commitment to each other to abstain from unhealthy lifestyle choices. They do not drink, smoke, do drugs, or partake in other behaviors that pose a health risk. Because they do not live unhealthy lifestyles, they do not put as much of a drain on the health care plan which keeps premiums low. These healthy lifestyle choices make all the difference and make this medical sharing concept work.

Benefits Of Medical Sharing

The healthy lifestyle choices that are a fundamental aspect of this concept will result in better health and fewer medical bills. When you also bring the medical sharing into the picture then the cost is reduced even further. Another benefit is that this plan has been shown to be successful.

While currently it is primarily if not exclusively undertaken by religious groups, these examples show that this type of health insurance alternative is quite feasible. It is true that participants must make healthy choices to maximize the effectiveness of such a plan, but if you can manage to construct a group that adheres to healthy living practices then the costs of medical care can be dramatically reduced.

Questions Raised By Medical Sharing

Can this type of arrangement really work? Would this concept work outside of religious groups where beliefs often prohibit risky lifestyle choices? Could this construct be applied in a way in a society that is often desperate for cheaper health insurance alternatives?

Medical sharing can work. It has been shown by religious groups for years. While the nuances will have to be attended to as any group comes together to form this type of collective, the potential is extraordinary.

The keystone to this format of handling health costs is the healthy lifestyle. Any group attempting to utilize this framework would need a way to find members who would agree to healthy lifestyle choices and would need a way to keep members accountable. Without religious beliefs dictating these lifestyle choices, how could a group ensure that members adhered to the guidelines?

Medical sharing is a practice that raises questions. Still, for its money saving potential it is not to be overlooked. Each person’s commitment to sharing health care costs and to living a healthy lifestyle could benefit everyone.