A Better Way to Pay for Healthcare

Dec 9, 2024

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Hey, open enrollment ends in just a few days—have you decided on a new health insurance plan yet? If not, you might not have to. What if there was another way—a biblical solution for meeting your healthcare costs? Let’s explore medical cost sharing, a faith-based alternative to traditional health insurance that could save you hundreds of dollars a month.

What Is Medical Cost Sharing?

Medical cost sharing is a cooperative approach to healthcare expenses rooted in biblical principles. It’s an alternative to traditional health insurance in which members share each other's medical costs. The concept is inspired by Galatians 6:2, “Bear one another's burdens, and so fulfill the law of Christ.”

One of the pioneers in this space is Christian Healthcare Ministries (CHM), the oldest organization in the medical cost-sharing space. Since 1981, CHM has enabled members to share nearly $11 billion in medical expenses. It’s a nonprofit organization that operates on biblical stewardship, focusing on members’ needs rather than profits.

How Does Medical Cost Sharing Work?

Instead of paying insurance premiums, members contribute a monthly share amount based on the plan they choose. This amount is typically much lower than traditional insurance premiums. Here’s why:

Self-Pay Model: CHM members are considered “self-pay” by healthcare providers, which often reduces costs significantly.
Reimbursement System: Members submit bills for covered medical services and are reimbursed from the shared pool of funds.

For example, under CHM’s Bronze plan, the highest annual personal responsibility cost is $6,000 per person—a potentially lower-cost option compared to the high deductibles and out-of-pocket maximums of many insurance plans in the Affordable Care Act (ACA) Marketplace.

Key Advantages of Medical Cost-Sharing

1. Cost Savings

CHM’s nonprofit model focuses on its members rather than shareholders, allowing more resources to be allocated toward medical needs. This often makes it a more affordable option compared to traditional health insurance.

2. Freedom of Choice

Unlike traditional insurance, which often restricts members to a network of providers, medical cost-sharing has no networks. Members can visit any doctor or facility of their choice, and if the service is covered, they’ll be reimbursed.

3. Portability

Medical cost sharing is portable, meaning your membership stays with you regardless of job changes or life transitions. Whether you’re starting your own business or switching careers, you don’t lose coverage.

4. Community and Prayer

By joining CHM, you become part of a community of believers who support each other through prayer and encouragement. CHM’s customer support team often prays with members, offering compassion and spiritual support during difficult times.

5. Lower Overhead and Greater Control

CHM’s lower administrative costs translate into lower costs for members. Additionally, with no insurance company acting as a middleman, members work directly with medical providers to set up treatment plans and payment arrangements.

Why Consider Medical Cost Sharing?

Health insurance companies can be a blessing, especially for catastrophic illnesses, but they’re also large bureaucracies heavily regulated by the government. Medical cost sharing avoids many of these challenges, offering a simpler, more faith-focused approach to healthcare.

If you’ve already signed up for health insurance for 2025 but are now considering medical cost sharing, you may still be able to cancel your insurance without penalty.

To explore how medical cost sharing can be a biblical solution to healthcare costs, visit CHMinistries.org. You’ll find detailed information about plans, benefits, and how to join this faith-based community. Don’t miss this opportunity to align your healthcare decisions with your values.

On Today’s Program, Rob Answers Listener Questions:

My husband and I are purchasing term life insurance, and the question has come up—do we make each other the primary beneficiary, with our children as the contingent beneficiaries? We have a blended family, and three of our kids are already grown; two are married, while three are still in the house and getting ready to launch into the world as teenagers.
I want some information on savings bonds. I have been to my bank and called my credit union, but neither one deals in savings bonds. I've got a grandson who's turning one, and I thought that might be a good birthday present for him in the future. But I just don't know where to go or what to do to purchase savings bonds for him.
We recently sold our house for a good profit, and we're wondering how to tithe on it. Do we tithe on the full amount we received or only on what goes above the initial price and interest we paid?
I have a 401(k), and I'd like to know how I can invest according to my values and the available options. The only options seem to be big companies that I'd rather not invest in. Do you have any suggestions?
I was thinking of buying these two single-family homes. They're both $150,000 each. I have a property that's worth about $800,000. What are the implications of selling the multi-level property and buying the two single-family homes? Is there something I need to know besides the standard closing costs? The multi-level property is mortgage-free, with nothing owed on it.
I bought a car years ago. I still owe about $5,500 on it, with a minimum monthly payment of $185. However, the car is starting to nickel and dime me on the cost of maintenance. The bank owns the title. What are my options here?

Resources Mentioned:

Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources.

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