Let's go over a couple of cost-friendly options to consider when signing up for a health insurance plan. These differ from major medical plans, but can be smart choices and are worth a look. Here's what you need to know!
*Note - if you are looking for an alternative insurance plan that is qualified for reimbursement through your company's QSEHRA, reference this help article first.
Short-Term Health Insurance
Short-term plans were built for relatively healthy and young individuals to provide them limited healthcare coverage while they were in between major life events, such as switching jobs, marital changes, or other qualifying events.
They do not cover pre-existing conditions and are meant to be a temporary option, but they are also very affordable. As you shop, be sure you read up on the plan to know what they do and don't cover.
Faith-Based Sharing Plans
Sharing plans like Medi-Share are not traditional insurance, but they are organizations through which members share healthcare costs with one another.
Medi-Share is a Faith-based program that has a state-wide PPO network managed by PHCS (Private Healthcare Systems, now owned by Multiplan). It may be smaller than some of the PPO networks in the past, but it does provide flexibility to see your doctors and will cover out-of-network expenses as long as it meets Medi-Share’s faith-based guidelines. Medi-Share won’t be for everyone but is a good option if it happens to fit your personal convictions and lifestyle. Make sure to check out our Medi-Share review and compare it to other major medical plans on our website before you enroll.