HEALTH-SHARE PLANS ARE NOT HEALTH INSURANCE
Health-share plans are cooperatives – often faith-based – with members agreeing to cover a certain portion of each other’s medical costs. That sounds a lot like insurance, but there are important legal and practical differences. Many states have passed laws that exempt health-share plans from laws and regulations governing health insurance. Many of these laws are designed to protect consumers and govern the way premiums are collected and benefits are paid.
One important way that health-share plans are different from insurance is that health-share plans can come up with their own processes for distributing money to members who file “claims.” We work with only one Health-share company Altrua.
With Altrua It’s Simple.
Individuals, couples, families, churches, and organizations contribute financially into the members’ escrow account and the Healthshare organization acts as the neutral escrow agent for the members.
• Members’ medical needs are shared according to the Membership Guidelines and escrow instructions.
• Members are asked to submit a monthly contribution.
• Members present their Membership ID card when medical services are received, and the provider submits the medical need according to the instructions on the back of the card.
Yes, I know it really does sound like health insurance but it is not. It is a great alternative. If you would like to learn more about Altrua’s Health-Share option please contact us!
Learn more here: HealthShare