Many agents and clients have asked if there are any affordable plans that provide help with medical expenses. The answer to that questions is yes; HealthShares are a great alternative to standard health care plans. Because Crowe and Associates works with multiple Health care sharing ministries, our agents have access to multiple options for their clients.
What is a HCSM?
Health care sharing ministries are U.S. based organizations that share health care costs among their members. Participation in a HCSM usually requires the member to be of a specific faith or religion. A health care sharing ministry does not use rates or actuaries. It also does not accept risks or make guarantees, and usually does not have stop loss insurance/re-insurance.
Members of the programs are exempt from the ACA individual mandates for the healthcare coverage requirement of the Affordable Care Act. (The mandate was repealed in 2017. The repeal went into effect in 2019). Regardless, members of a health sharing ministry are not required to have a health plan due to the exemption.
HealthShares access to HCSM’s through Crowe and Associates
We are able to offer contracting for several nationally based healthshare plans. Not all plans are denominational. Rates tend to be 40-50% lower than traditional health insurance plans. HealthShare plans are NOT insurance plans. They are considered an ACA exempt option to traditional health insurance plans. In some cases, next day effective dates are available. Because of that, these plans a good short term plan solution.
OneShare is a non-denominational offering. Street comp is 16%. GA and MGA contracts are available. If you would like more information about OneShare healthshares; Click here for more information about OneShare.
Altura is a Christian based offering. Street comp is 8%. GA contracts are also available. Click here for more information regarding Altrua HealthShares.
Pre-existing conditions clauses and other exclusions
Most HealthShare plans will exclude pre-existing conditions for a set amount of time for those who join. The time frame varies but can be up to 24 months with most programs. Some will waive the pre-ex on common conditions such as high blood pressure, Cholesterol, Thyroid and Diabetes treated with generic medication. There are also a number of exclusions that are not common with a standard health plan. Agents and consumers should be diligent in understanding the pre-existing clauses and other services that may be excluded from sharing.