Beware The Health Shares 

In the early stages of his career, Eric Geier discovered a unique form of insurance-like coverage provided by faith-based organizations. Known as Health Shares, this concept involves pooling contributions to distribute funds based on individual medical needs. However, as one delves deeper into this model, several concerns emerge.

Firstly, there is the potential for claims denial based on perceived morally-questionable behavior. Moreover, Health Shares operate as non-regulated entities, raising questions about transparency in financial information. Another issue is the absence of a financial backstop to handle multiple simultaneous and expensive claims, especially during unforeseen events like the Covid pandemic.

A critical question arises for those considering or already on a Health Share plan: Why contribute monthly without the guarantee or regulatory oversight ensuring the organization fulfills claims. Furthermore, Health Shares lack coverage under State Guaranty Funds, leaving them vulnerable to financial strain in the face of overwhelming claims.

The prevalence of Health Shares has risen due to the pricing of ACA/Marketplace Plans, but concerns persist regarding the uncertainty of expected benefits. Consequently, some individuals have shifted to Private Health Insurance, offering claim-paying certainty at a comparable cost. It is essential to explore the limitations of these policies when evaluating healthcare options.

As the founder of Puresurance, Eric Geier dedicates himself to educating individuals and business owners about available health coverage options. He can be contacted at [email protected] or 561-287-9097.