Jericho Share Health Insurance: A Comprehensive Guide

As medical costs continue to rise, health insurance has become a necessity for individuals and families alike. But what if you can’t afford the high premiums of traditional health insurance? That’s where Jericho Share Health Insurance comes in. In this article, we’ll take a closer look at this affordable and innovative option for health coverage.

What is Jericho Share Health Insurance?

Jericho Share Health Insurance is a health cost-sharing ministry that provides an alternative to traditional health insurance. Members of the ministry pay a monthly “share” that is used to cover the medical expenses of other members. In return, when they have medical expenses themselves, their fellow members contribute to cover the costs.

Jericho Share Health Insurance is not insurance in the traditional sense, as it is not regulated by state insurance departments. However, it is recognized under federal law as a healthcare sharing ministry, and members are exempt from paying the penalty for not having traditional health insurance.

How does it work?

When a member has medical expenses, they submit the bills to the ministry. The ministry then reviews the bills to ensure they meet the guidelines for sharing. If the bills are eligible, the ministry will assign a portion of them to other members to share in the cost. Members then send their monthly share directly to the person or people assigned to receive it.

Members of Jericho Share Health Insurance have access to a network of healthcare providers, but are also free to choose their own doctors and hospitals. The ministry negotiates prices on behalf of its members, which can result in lower costs for medical services.

Who is eligible for Jericho Share Health Insurance?

Jericho Share Health Insurance is available to individuals and families who agree with the ministry’s Statement of Faith and Principles. Members must also agree to live a healthy lifestyle and abstain from certain activities, such as smoking and drug use. Pre-existing conditions may be subject to limitations in coverage.

How much does it cost?

The monthly share for Jericho Share Health Insurance varies depending on the chosen plan, but generally ranges from $200 to $500 per month for a family. This is significantly lower than the premiums for traditional health insurance plans. The cost also includes an annual administrative fee of $175 per family.

Jericho Share Health Insurance Plans

Jericho Share Health Insurance offers several plans to meet the needs of its members. Each plan differs in the monthly share amount and the maximum amount shared per incident. Here is a breakdown of the plans:

Each plan also has a different annual household portion (AHP), which is the amount a member must pay out of pocket before the ministry starts sharing medical bills. The AHP ranges from $1,000 to $10,000 depending on the plan.

Are there any drawbacks to Jericho Share Health Insurance?

While Jericho Share Health Insurance can be a great option for those who cannot afford traditional health insurance, there are some drawbacks to consider. Because it is not regulated by state insurance departments, there is no guarantee that medical bills will be covered. Members must also be comfortable with the concept of sharing medical costs with strangers.

Additionally, because Jericho Share Health Insurance is not considered traditional health insurance, members may not have access to some benefits and protections guaranteed by the Affordable Care Act, such as maternity coverage and guaranteed coverage for pre-existing conditions.

FAQ

Is Jericho Share Health Insurance a Christian ministry?

Yes, Jericho Share Health Insurance is a Christian ministry that requires members to agree with its Statement of Faith and Principles.

What is the Statement of Faith and Principles?

The Statement of Faith and Principles outlines the beliefs and values of Jericho Share Health Insurance. It includes a commitment to living a healthy lifestyle and abstaining from certain activities, as well as a commitment to sharing medical costs with fellow members.

Can I choose my own doctors and hospitals?

Yes, members of Jericho Share Health Insurance can choose their own healthcare providers.

What happens if my medical bills exceed the maximum shared per incident?

If a member’s medical bills exceed the maximum shared per incident, they will be responsible for paying the remaining balance. This is why it is important to carefully consider which plan is best for your needs.

Can I join Jericho Share Health Insurance if I have a pre-existing condition?

Pre-existing conditions may be subject to limitations in coverage, but this varies depending on the plan. It is important to review the details of each plan carefully to determine if it will meet your needs.

Is Jericho Share Health Insurance available in all states?

Because Jericho Share Health Insurance is not considered traditional health insurance, it is available in all states.

Conclusion

Jericho Share Health Insurance offers an affordable and innovative option for healthcare coverage. While it may not be the right choice for everyone, it is worth considering for those who cannot afford traditional health insurance. By understanding how Jericho Share Health Insurance works and carefully reviewing the available plans, individuals and families can make an informed decision about their healthcare coverage.