{"id":5762,"date":"2024-09-06T12:05:33","date_gmt":"2024-09-06T17:05:33","guid":{"rendered":"https:\/\/chministries.org\/?p=5762"},"modified":"2025-07-14T12:48:24","modified_gmt":"2025-07-14T16:48:24","slug":"what-is-health-cost-sharing","status":"publish","type":"post","link":"https:\/\/chministries.org\/blog\/what-is-health-cost-sharing\/","title":{"rendered":"What exactly is health cost sharing?"},"content":{"rendered":"\n
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Picture this: You have an unexpected, significant medical expense and you\u2019re now faced with the unforeseen burden of medical debt.<\/p>\n\n\n\n

Even with health insurance, there are still often out-of-pocket costs for families and individuals. U.S. healthcare costs are on the rise. According to the Kaiser Family Foundation, the 2023 average insurance premium for an individual was $703 a month, causing people to wonder \u201cWhy is health insurance so expensive?\u201d and \u201cIs there a better way?\u201d<\/p>\n<\/div>\n<\/div>\n\n\n\n

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We think so.<\/h2>\n\n\n\n

Health cost sharing is an alternative to health insurance. It\u2019s an out-of-the-box solution for paying medical costs and is often more affordable.<\/p>\n\n\n\n

Members of health cost sharing ministries (HCSMs) pay monthly amounts that are then used to \u201cshare\u201d or pay other members\u2019 eligible medical bills.<\/p>\n\n\n\n

HCSMs are often non-profit organizations and consist of members from a similar faith background. Since they\u2019re non-profit, nearly all monthly membership amounts can go toward paying other members’ medical bills.<\/p>\n<\/div>\n<\/div>\n\n\n\n

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Health insurance alternatives<\/h3>\n\n\n\n

Health cost sharing has become a popular alternative to health insurance in the last decades, particularly after the Affordable Care Act was put into place. When looking into a health cost sharing ministry for your healthcare, here are some things to consider:<\/p>\n\n\n\n