How we dropped health insurance

Healthcare. Insurance.  Deductibles. Co-pays.

This was not something that I gave much thought to for many years.  I just knew that quite a large sum was being deducted each month from our take home pay.

When I quit working full time, we had to work some magic with the budget.    One of the expenses that stood out (screaming “I’m a rip off!”) was the amount that we paid each month for health insurance.

We started looking at those dollars…all 1500 of them and wondered what we could do differently.  Without even considering the high deductible, we felt that we could do better.

Medical Appointment Doctor Healthcare Clin

My husband, being the researcher that he is,  spent several months looking into alternative insurances and plans.  We compared prices and reviews.

We chose Medi-Share.  Now, let me be clear.  Medi-share is NOT insurance. Here is my very abbreviated explanation of what it is and how it has worked to save us money.

So what is Medi-share? 

Medi-share is a Christian sharing ministry, following the Biblical principle of dividing resources and helping your neighbor.  We pay $551 per month for our family’s membership. Our deductible is $3750.  Once we reach our deductible, our bills are submitted and are “shared” to other members.

A big concern for us was if we would need to change our pediatrician and clinic.  We were relieved to find that so many doctors were part of the network and we did not have to change doctors.

What about the doctor bills?

We have a copay when we have an appointment and that is all that we pay up front.  The provider adjusts the amount by a “contractual write off” and then we are billed.  That same step happens with insurance.  The next part is how the process differs.  The amount that is  left over is now fully your responsibility and goes toward your deductible.  Although we might sometimes have a large remainder, we would have to spend $1000 a month out of pocket in order for us to equal what we were paying in our insurance premium.

I’ll admit that at first it felt as though we were breaking the rules. I probably asked my husband a hundred questions before going to the doctor for the first time without “insurance.”  Somehow I had been led to believe that I have to go with the majority.  I’m happy to say that 2 1/2 years later, we are still pleased.  We know that we are saving money each month and plan to continue using Medi-share.

If you and your family are looking into alternatives for your insurance needs, I’d recommend checking it out.

Just so that you know,  this link is my referral link.   If you have questions about Medi-share, I’d be happy to answer from my experience.  Feel free to send me a message.

 

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