Liberty Health Share as opposed to health insurance

[ShahMD]

Has anyone used Liberty Health Share or a health sharing program in lieu of say possibly a HDHP with HSA? Let me explain my situation.

Me and the wife (both 31, no chronic medical problems) are moving from NY to Texas soon and going from W2 to IC.

I'm looking for health insurance and seeing how expensive it is. There will be a gap of about 3 months where I won't be working to take time off for family.

Seeing the health insurance premiums for myself and wife appear to be about $800/month for BCBS at a deductible of about 13k. It's crazy how expensive this can be but I realize thats the world we live in.

I came across Liberty Health Share which appears to be a health sharing ministry. Basically if I bought their gold plan they would cover everything after meeting a $1k deductible at about $300/month. Preventive services aren't covered. Certain behaviors aren't covered. Cant smoke, drink, have sex out of wedlock. Believe in a higher power. All of these actually fit my day to day life. It also looks like theres a lifetime limit of $1 mill but I could possibly sign up for insurance in the mean time. There is no prescription/dental/vision coverage but they offer discounts. Here is the link and a blog that details benefits and risks.

https://www.libertyhealthshare.org/faq#q9

https://millennialmoola.com/2017/04/05/quitting-my-obamacare-plan-2/

Has anyone ever tried one of these? Should I stick with my traditional HDHI with HSA? At least I gain access to a HSA at that point for stealth IRA. Any advice would be much appreciated. Thanks so much.

 

 

Has anyone here ever used one of these?

 

[MrsIMDoc]

I think WCI has a few reviews on this topic.

https://www.whitecoatinvestor.com/christian-health-care-sharing-versus-health-insurance/

https://www.whitecoatinvestor.com/health-sharing-versus-aca-health-insurance-plans/

Personally I think it is a bad idea.  They are NOT health insurance. However, in your case if you are only using it for three months then it may be worthwhile.  Also is COBRA an option for you?

[chrisCD]

We use Liberty for two of our children that aren't living at home and our plan won't cover them.  So far we have had no major problems.  Last year $1,500 in medical bills.  Deductible is $500.  $1,000 was paid.  This year, so far over $1000 and again we paid the deductible and the other portions are in process.  We even had to pay part out of pocket and received the reimbursement check.

It does qualify under the ACA (Obamacare) for meeting the requirement of having insurance.  It is not "insurance", but you will be hard pressed to find an example of them not paying a bill.

It has been debated here and other places.  For many, traditional plans just aren't affordable.  They are and for us, they have paid as advertised.  There can be issues with pre-existing conditions, but unlike many sharing plans they actually phase coverage in, instead of just not covering them at all.

Do your research and see what you find.  Read the above links and read what you find elsewhere.

cd :O)