Home
Log in / Sign Up
    Private Messages   Advanced Search   Rules   New User Guide   FAQ   Advertise   Contact Us  
Forum -> Household Management -> Finances
Liberty Healthshare



Post new topic   Reply to topic View latest: 24h 48h 72h

Molly09




 
 
    
 

Post Tue, Aug 23 2016, 6:13 pm
Hello, I'm currently looking into health insurance options for my family. It all seems so expensive, and I saw somebody mention liberty healthshare on this site. It seems like a great option.

Can anybody who has any information on this, share the pros and cons?

Thank you.
Back to top

amother
Turquoise


 

Post Tue, Aug 23 2016, 6:54 pm
Be very careful about health shares. Since they are not insurance they can refuse to pay for pre existing conditions. Often times they have very very strict limits on what they will pay for, many do not pay for well care or things like colonoscopies or routine childhood vaccinations. Some health shares negotiate price with the provider, if they get a good negotiated price you may have to pay out of pocket for the difference between the original bill and the negotiated price. These funds go directly to the health share. Some health shares do not offer payment for any kind of maternity care. Health shares are not regulated in many states so buyer beware.
Back to top

Amarante




 
 
    
 

Post Tue, Aug 23 2016, 7:16 pm
Turquoise is correct as these religious shares offer no protection as they just act as a funnel and direct funds to members.

Ask yourself what yiu are insuring yourself against. Typically these sharing funds do not cover regular medical expenses as they need to be over a certain limit for coverage.

And each incident starts a new coverage.

They also generally have relatively low upper limits which can be reached quickly if one has a serious illness.

Also, yiu would have to negotiate with each health care provider because fees charged for those without insurance are generally higher than rates negotiated by an insurance company.

So to some extent yiu have the worst of all possible insurance coverage. The deductible is high so ordinary medical expenses are not covered. The total out of pocket is not limited and the maximum paid for serious illness is low.

A regular insurance has a maximum yearly out of pocket cost and no limit for serious or catastrophic diseases. It also has negotiated rates with providers that are lower.


Last edited by Amarante on Tue, Aug 23 2016, 8:36 pm; edited 2 times in total
Back to top

amother
Turquoise


 

Post Tue, Aug 23 2016, 8:00 pm
Amarante wrote:
Turquoise is correct as these religious shares offer no protection as they just act as a funnel and direct funds to members.

Ask yourself what yiu are insuring yourself against. Typically these sharing funds do not cover regular medical expenses as they need to be over a certain limit for coverage.

And each incident starts a new coverage.

They also generally have high upper limits which can be reached quickly if one has a serious illness.

Also, yiu would have to negotiate with each health care provider because fees charged for those without insurance are generally higher than rates negotiated by an insurance company.

So to some extent yiu have the worst of all possible insurance coverage. The deductible is high so ordinary medical expenses are not covered. The total out of pocket is not limited and the maximum laid for series illness is low.

A regular insurance has a maximum yearly out of pocket cost and no limit for serious or catastrophic diseases. It also has negotiated rates with providers that are lower.


Good points. Also some health shares do not permit you to have more than one claim at a time. They are really just pyramid schemes. There is no accountability. Most of them expose your medical conditions and information to total strangers who could care less about medical privacy laws. Some even require a vote of all paying members to determine if your covered claim will be honored.
Back to top
Page 1 of 1 Recent Topics




Post new topic   Reply to topic    Forum -> Household Management -> Finances

Related Topics Replies Last Post
Kimpeturin Heim Liberty/Breslov
by amother
17 Sun, Feb 18 2024, 11:56 pm View last post
Brooklyn dentist Liberty Dental with Anthem Blue Cross
by amother
1 Thu, Feb 08 2024, 8:48 am View last post
Camp Toras Chaim Tashbar Liberty, NY
by amother
9 Thu, Jan 11 2024, 1:19 pm View last post
Liberty dental
by amother
7 Fri, Nov 17 2023, 12:10 am View last post
Kosher food near liberty science center with sukka
by amother
6 Mon, Oct 02 2023, 10:15 pm View last post