Is Medi-Share a Good Alternative to Healthcare Marketplace Plans?

As people retiree and age into Medicare, often they find that they're leaving spouses behind to fend for themselves for insurance.

This means that people begin giving a good, hard look at Healthcare Marketplace plans. And, then the pain comes. Many marketplace plans have high deductibles for premiums that some consider to be exorbitant.

If fact, the average marketplace premium for a person between the ages of 55 and 64 is $790 per month — almost $9,500 per year. And these plans have an average deductible of about $4,600. For just about anyone, these numbers can cause some sticker shock.

Is is any wonder then that people are searching for alternatives.

One of the seemingly fastest-growing alternatives to marketplace plans are Health Care Sharing Ministries (HCSMs). Some of the most commonly-known among these are Medi-Share Christian Care Ministry, Samaritan Ministries, and Christian Healthcare Ministries.

But, just how viable are these programs as alternatives to healthcare marketplace plans? Katie Lenz, financial advisor at Timberchase Financial LLC Wealth Management, took a deep dive into these HCSMs and wrote about it in her article, "Health Care Sharing Ministries - A Viable Alternative to Conventional Health Insurance?"

We highly recommend that anyone considering HCSMs as an alternative insurance option read this valuable article.