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Radical Personal Finance

404-The Health Insurance Series, Part 5: Health Care Sharing Ministries (this is how we pay for our health care costs in the Sheats family)

Radical Personal Finance

Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP

Education, Investing, Business, Self-improvement

4.21.9K Ratings

🗓️ 12 December 2016

⏱️ 88 minutes

🧾️ Download transcript

Summary

Today I tell you why we don't have health insurance in my family and what we do instead! We continue our health insurance series today with a discussion of Christian Health Care Sharing Ministries.

Perhaps the Health Care Sharing Ministries shouldn't be in this series because they are not actually health insurance.

But, if you're a participant in an approved organization, you qualify for an exemption to the Obamacare tax penalty (for not having health insurance).

Personally, I love the concept of these organizations and I have nothing but good things to say about my experience with Samaritan Ministries (which is the one that my family participates in).

In today's show I give you a background of these companies and my own experience and opinion of them.

There are 5 major options for you:
1. Samaritan Ministries http://samaritanministries.org/ 
2. Christian Healthcare Ministries http://www.chministries.org/ 
3. Medishare – Christian Care Ministry https://mychristiancare.org/medi-share/ 
4. Liberty Health Share http://www.libertyhealthshare.org/ 
5. Altrua Health Share http://altruahealthshare.org/ 

Enjoy the show!

Joshua

p.s., if you join Samaritan Ministries, please remember to tell them that "Joshua Sheats" sent you so that I can get a small discount!

Transcript

Click on a timestamp to play from that location

0:00.0

Today, Radical Personal Finance, Part 5 of our Health Insurance Series.

0:05.0

Today we tackle Healthcare Sharing Ministries.

0:10.0

These are not health insurance options, but they are fantastic competition to health insurance.

0:20.0

It's my personal choice for how I choose to pay for the health care costs for my family.

0:25.4

And today I'm going to share with you a little bit of background on health care sharing ministries

0:28.9

and as well as my own experience and give you some suggestions as to how you can investigate these

0:36.6

options for yourself. Welcome to Radical Personal Finance, the show dedicated to providing you with the knowledge,

0:57.0

skills, insight, and encouragement you need to live a rich and meaningful life now while building a plan for financial

1:04.0

freedom in 10 years or less. My name is Joshua Sheets. I hope you enjoy bringing the music back.

1:09.7

I didn't banish the music from the show. I really like it. In fact, I'm getting in a better mood right ministries and I've referenced this so throughout

1:32.0

this series that we've been working on with regard

1:34.7

to how to pay for your health costs.

1:38.4

To refresh your memory this is now part five of that series we began with a discussion of health insurance the use of

1:45.4

health insurance began by clarifying that health insurance and health care

1:50.0

are not synonymous and you should just make a distinction between them. We went on

1:54.8

to talk about primary focus of us which has been the Affordable Care Act

1:58.9

legislation I shared with you in part two why I personally oppose the Affordable Care Act and kind of some of

2:07.2

the ideological background to that. In first in part one I gave you some of my

2:12.0

insight and just suggestions and how to approach health

2:15.2

insurance as well.

2:16.8

In part three of the show, we talked about the premium tax credit, what it is, how it works,

2:21.9

and how to maximize your cash from it.

...

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