Short-Term Coverage vs. Healthshare Ministry Plans: Which Is Right for You?
You know you need health coverage, but you may not be able to afford it. Or you may have had insurance through your work but then lost your job. Or maybe you had health insurance near Phoenix through your spouse, but now you’re getting divorced. You need to find an affordable option to get the health care you need.
You may be considering two kinds of health plans: Short-term health coverage or a healthshare ministry plan. Here’s a closer look at what the two offer to help you decide which may be right for you:
Healthshare Ministry Plan
Healthshare ministry plans around phoenix offer a number of advantages, but they also have a few drawbacks. You need to consider both to make the right decision.
Healthshare ministry plans are usually backed by a Christian organization, and they bring together people to share healthcare costs. These plans are similar to health insurance in that you pay a monthly amount and get discounts on health care. The difference is that you aren’t paying a monthly premium for insurance; instead, you are paying a shared amount along with other families into a fund that is used by all.
Typically, you will pay much less for a healthshare ministry plan than you would for health insurance. You’ll also have lower annual costs and deductibles, and you won’t be charged the tax penalty for failing to have health insurance. Yet you will have a lifetime or an annual limit on your coverage, and you will have to prove that you are in good health to qualify for the plan. Not all healthshare ministry plans will cover pre-existing or chronic conditions, and some may not cover services they deem to be unethical, such as prescriptions for birth control.
Short-Term Health Plan
Short-term health plans have some things in common with healthshare ministry plans, but they are different.
Short-term health plans are what they sound like – short-term plans now last from 1 to 36 months as of August 28th 2019. They are useful for bridging the gap between coverage, such as if you have lost your job and are currently looking for another job. You can rely on a short-term health plan to protect you in the interim.
One downside of short-term health plans is that they do not meet the requirements of the Affordable Care Act and just like Health Share plans they do not cover pre-existing conditions.
A short-term health plan usually carries a deductible, but it covers a high percentage of costs for services.
Choosing the Right Plan
Ideally, you would be able to get a health insurance plan around Phoenix that would offer maximum coverage for all your health care needs. While such plans exist, they are often prohibitively expensive, and they come with certain qualifying criteria.
Fortunately, you have many options for getting some coverage while you are searching for a more appropriate plan. You can get a short-term plan to cover you between expected health insurance, or you can choose a healthshare ministry plan to get ongoing coverage for a lower cost.
Phoenix Health and Life Insurance can help you find an appropriate health insurance plan that will fit your needs. We handle plans that meet the requirements of the ACA, as well as short-term plans. We’ll review the terms to help you find a plan that will fit your budget while also meeting your health care needs. We can also help you find plans that work with Medicare and Medicaid, and we can help you find a life insurance plan. Call us in Phoenix today to talk with a health insurance broker about the right health insurance plans for you.
We have two locations to serve you:
Call us today to see how we can help (623) 516-8300
21620 N 19th Ave
Phoenix, AZ 85027
4455 W Broadway Rd Suite 104
Mesa AZ 85206