The Positive Side of Sharing

We try not to take too firm a stand on products we don't sell, and of course a healthy skepticism is always in order for non-insurance products that claim to pay for health care.

For example, we've blogged quite few times on Health Care Sharing Ministries, most recently here:

"My claim from October had still not been paid. Yesterday I received a notice ... that since I was no longer a paying member my medical claims are no longer eligible for payment!"

But we also know folks who've had positive experiences. This past Spring, for example, long-time IB reader Thomas L reported that:

"We are using a sharing ministry, Samaritan Ministries, as of September. In Oklahoma, the premium increase for this year was announced at 51% and all but BCBS were exiting the market statewide*. This is after an almost 40% increase the year before."

Yikes.

But again, it's not just about saving money upfront: how will one fare once claims start to accrue?

Well, recently Tom sent this update:

"Baby is here!

So far so good on all things Samaritan. All current expenses are already paid, the money for the obgyn is pre-paid to the clinic (which for whatever reason they hold in escrow), and the money for the hospital�s delivery estimate I have in a separate account ready to go, but since he was just delivered on 9/17, we have not had any bills yet.

I�ll have a much fuller report after the hospital really bills us, and, if it is like last time with BCBS, that weird never-ending stream of bills from the doctors and staff that come into your hospital room but technically aren�t with the hospital, so bill you separately."

Mazel tov!

Thanks, Tom, for keeping us updated, and have a GREAT Thanksgiving!