A QUICK COMPARISON OF CHRISTIAN HEALTHCARE MINISTRIES VS. MEDI-SHARE
Medi-Share is another Christian healthcare ministry offering an affordable health insurance alternative. Some of the notable differences are as follows
- Medi-Share offers annual portions of households against personal liability per CHM incident. Annual household shares are more like a deductible because medical costs add up until you reach an out-of-pocket maximum for your family for the year. CHM’s liability starts over with each new unrelated incident.
- For a healthy 36-year-old and his family of five, it’s $735 a month with Medi-Share versus $450 a month with CHM for the highest level of coverage.
- Members must meet specific physical requirements to qualify for “Healthy Monthly Share” with Medi-Share.
- Health care providers submit bills directly to Medi-Share, determining if you are eligible to share and sending payments to providers. However, Christian Healthcare Ministries requires members to upload invoices to their member portal. The statements that are eligible for sharing are determined, and the member receives a check directly from them. Members deposit the check into their bank accounts and pay the bills themselves.
Does Medicare cover prescription drugs?
Prescriptions: Prescriptions are eligible for sharing (for six months) if they are related to a new eligible illness, injury or accident. Members have access to prescription discounts that can help you save an average of 40 percent on all your medications, even if it’s a drug you already take.
Is Medi-share a high deductible plan?
Medi-Share monthly matching contributions are not deductible. However, that could change in 2021 if specific health care arrangements are approved. But for now, remember that you can deduct medical expenses based on a percentage of your AGI. HSA: Since it’s not insurance, you can’t qualify for an HSA with Medi-Share.
Does Medicare cover flu shots?
Medi-Share has been an excellent way for my family and me to save on health insurance. However, before you take your child in for a regular checkup and shots, there’s something you need to know: It will NOT cover pictures.
How many members does Medi-share have?
The organization’s primary focus is its family health program, Medi-Share, a medical bill-sharing system based on biblical principles outlined in Galatians 6:2. Christian Care Ministry. Founded in 1993, Medi-Share Services, Manna Method Health Counseling, Mission (Christianity), Prayer Members c. 300,000+.
Does Medicare cover mental health?
While Medi-Share covers most things you’d expect a regular health plan to cover, it doesn’t cover mental health or substance abuse counseling. If you need many of those services, you could go over your AHP and not get any benefit sharing.
Are Health Share HSA plans eligible?
You cannot continue to fund your HSA with a shared health plan. It’s not a high-deductible health plan, so you can’t contribute to your health savings account (HSA).
Is health care ministries tax deductible?
In these proposed regulations, the IRS assumes that health care sharing ministry membership payments (dues or fees) qualify as health insurance and are deductible. In addition, members must be allowed to remain members even after developing a medical condition.
What is a shared-cost ministry?
Health care cost-sharing allows members to lighten one another’s a burden while adhering to the ministry of Christ. Medical cost-sharing describes the collective effort to pay medical bills through members’ voluntary monthly contributions, which are used to share each other’s medical costs.