If you have decided a health share might be a good fit for you, the next question is which company to actually choose. Since health shares are not regulated the same way traditional insurance is, this decision matters more than it might with a standard insurance plan.
In earlier posts in this series, I covered what a health share is and how it compares to traditional insurance. This post is about what to actually look for when evaluating a health share company, along with a few companies I have found to be reputable.
What Makes a Health Share Company Reputable
A few things are worth checking before you commit to any health share.
How long they have been in business. Longevity matters. A company that has been operating for many years and has weathered different economic conditions has a proven track record of actually sharing members’ expenses over time.
Reviews. Look at what current and former members are saying, on independent review sites, not just testimonials on the company’s own website. Watch for patterns of complaints, particularly around denied claims or slow payment, rather than a single bad review here or there.
Popularity and reputation among other members and providers. It is worth asking around, including asking your own doctor, what health shares they see their patients using successfully. A company with a large, growing membership base tends to also be more financially stable than a small or newer company, simply because they have more contributions coming in to share among members.
A Few Companies Worth Knowing About
When I ask other direct primary care physicians which health shares they see working well for their patients, two names come up most often: Zion HealthShare and Sedera. Both are secular, meaning there is no religious requirement to join, both allow you to see any provider you choose, and both have strong reputations and long track records of sharing members’ claims.
CrowdHealth is a newer, slightly different model. Rather than a traditional health share pool, it works more like a crowdfunding structure, where the community funds members’ medical bills directly. It technically does not qualify as a traditional health share, but I have had a patient using it who has had a great experience, so it is worth knowing about as an option.
Beyond these, there are a number of faith-based health sharing ministries that have also been around for a long time and have loyal member bases. Christian Healthcare Ministries is the one I have heard recommended most often. If a faith-based community aspect is important to you, these are worth researching. They usually require members to hold specific religious beliefs and may have certain religious and lifestyle expectations. In general, I have found these tend to run more expensive than the secular options mentioned above, particularly for families.
The Bottom Line
Whichever health share you are considering, do not skip the homework. Check how long they have been operating, read independent reviews, ask around about their reputation, and read the member guidelines closely before you sign up. A little research upfront can save you a lot of frustration later.
If you are also looking for a direct primary care practice to go alongside your health share and live in Stephens City, Winchester, Clarke County, or the surrounding area, you can schedule a free Meet and Greet with me.
In the next post in this series, I will break down typical health share pricing in more detail and compare these major companies side by side, so you can see how the numbers actually stack up for your situation.
+ view comments . . .