An Alternative Kind Of Health Care Insurance — Medical Sharing
Americans undoubtedly believe that the costs of health care are beyond the reach of the average individual and it is nearly impossible to find health care insurance of the alternative kind. There are various reasons for this phenomenon because people are required to deal with the premiums of health care insurance.
The result of the phenomenon has led a number of Americans to look for alternative methods making payments of health care premiums. Many Americans choose to share their medical bills nowadays, which is often found as an effective mechanism to deal with the higher premiums of health care insurance. This option is known as medical sharing and is not one which has been introduced recently.
Medical Sharing Can Save You Money
Sharing medical bills may sound a bit personal for some but it has been an effective method to afford health care for many. Medical sharing is not a new concept and is being offered by a few organizations for just over a decade. It is also referred to as a medical sharing society and while these medical sharing networks are not insurance companies they are often known as medical cost-sharing organizations. Their functionality is similar to a health insurance company but the premiums are in the affordable category. Want to understand how they provide coverage which is similar to traditional insurance companies but charges lower premiums? It just boils down to the lifestyles of the participants.
Are You Worried About Paying For The Bad Lifestyles Of Other People?
Consider the working of a regular health insurance plan. A large number of people get insured and their health and lifestyle choices are different from each other. Some of the individuals are healthy and do not indulge in habits like smoking, drinking or risky behavior of any kind. At the same time, many are not concerned about their health and also lead risky lifestyles with everything in between. However, they are all part of the same health care plan and therefore they are all required to share medical costs. Now, consider what would happen if you were part of a health care plan where all participants were required to make a pledge they would not make any unhealthy lifestyle choices? The result would probably be entirely different.
A Healthier Lifestyle Will Fall The Better Part Leave Us With Fewer Health Care Costs
Our health insurance would be more affordable if we were fortunate enough to be part of a health care plan where everyone agreed not to smoke, take drugs, indulge in risky lifestyles or consume alcohol. This can happen in a medical sharing society. Wonder how? Presently, all medical sharing societies are based on religion and this is the primary reason why they are able to offer health care coverage which is similar to traditional insurance at an affordable price. Because of the religious convictions, they have the participants agree not to indulge in activities which will be in contrast with their faith. Still wondering whether a model of this type can succeed or whether everyone is willing to follow the rules? Continue reading and you will get a better idea about the concept.
Medical Sharing Works Well
So far, medical sharing societies have been immensely successful, which leads us to conclude that the participants enrolled in the program are staying true to their word. This could perhaps be the answer Americans are looking for to find a different method to pay for medical costs. However, would this model work beyond the religious framework? The key requirement here would be to keep everyone honest.
It may not be a concept that may materialize in the immediate future but the fact that other organizations would also decide to produce a similar model of medical sharing cannot be discounted either. The organizations would find labor unions and faternatial groups to be great participants for a similar model. It presently looks like medical sharing societies are functioning successfully because of their religious convictions but the challenges before other nonreligious organizations would be to maintain a degree of honesty within their members by getting them to agree to lead healthy lifestyles. Medical sharing can definitely succeed if organizations can get definite commitments from all their participants because it will ultimately help them reduce the costs of health care insurance.
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