Liberty Health Share

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I've just come across https://www.libertyhealthshare.org/ when comparing insurance options.  I'm currently covered via Cobra until February 14th.  On that day I either have to pay $5k ish and then $1300 a month for a pretty comprehensive plan with a $2000 annual deductible for my family of three.

All are in good health with no pre-existing issues.  

Liberty is $449/month for the family with what amounts to a $1500 deductible.

Most exchnage plans are in the 800/month range with a 5k deductible.

Anyone have any experience?

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superdrew said:   I've just come across https://www.libertyhealthshare.org/ when comparing insurance options.  I'm currently covered via Cobra until February 14th.  On that day I either have to pay $5k ish and then $1300 a month for a pretty comprehensive plan with a $2000 annual deductible for my family of three.

All are in good health with no pre-existing issues.  

Liberty is $449/month for the family with what amounts to a $1500 deductible.

Most exchnage plans are in the 800/month range with a 5k deductible.

Anyone have any experience?

  Note that this is not "heath insurance" but a "health care sharing ministry". There are some limitations (e.g., state/federal regulations may not apply, may have dollar limits on coverage, etc.)
This article explains this in more detail.

NPR Also did a story on this
It seems that they pick and choose what's included. (Is your chrosis in the liver from genetic reasons, or "lifestyle" and thus not covered?)

If I recall the story correctly, the hospital will treat the patent as self-insured, the ministry will negotiate a cash discount, send it to the patient, and then publish it for all other members to see. Very much a trial of faith...

Liberty HealthShare℠ is not insurance. It simply unites like-minded Americans to share medical costs together.  (from the web-site)

and what if they decide to not pay your bills?  who do you call?  state Insurance office will only laugh as they hang up.


 

The biggest problem is that there is NO network. That means hospitals and physicians can balance-bill you any amount they want. Usually 2x-4x the price that an insured patient would pay, but it could be 10x or higher.

Sure, Liberty might cover some portion of that. But you may be left with a huge bill, particularly if the physician is greedy, or decides he wants a new yacht.

Also, what happens to your prescriptions? I'm not talking about antacid pills. I mean things like new cancer drugs that cost $100K+. Are you sure Liberty would cover a meaningful portion of that?

I would try to get insight into how much of these bills Liberty really covers, before taking the risk. There's a reason the premiums are cheaper. Remember that insurance companies have to spend 80% of the premiums on medical care, so it's not like they're just raking in the premiums and keeping it all for themselves.

I looked into this and I decided COBRA was a better option:
"In other words, beneath their (sincere) religious rhetoric, HCSMs are actually a kind of legalized gambling. You pay in less, but you might get stuck with a bill later"
(http://www.thedailybeast.com/articles/2015/08/04/want-to-ignore-...
Everything I have read seems to suggest this is true.
I would go with the $800 plan as it is really insurance, if something goes wrong (god forbid) there is some regulation to fall back on, there does not seem to be anyone regulating this type of cost sharing.
(I can see it now "God told us you went blind due to something immoral, so no coverage" "You were working on a Sunday, so that broken leg is not covered" )



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