Medical Cost Sharing: A Viable Alternative to Traditional Healthcare
With the rising costs of health insurance, people are looking for alternatives. Nobody wants to pay more for less, yet that is what is happening in the insurance market today: Coverage is going down as cost is going up. Trinity HealthShare’s medical cost sharing programs provide affordable and effective alternatives for those who believe in individual responsibility, healthy living, and caring for one another.
Trinity HealthShare and traditional insurance are not the same
Trinity HealthShare is a Health Care Sharing Ministry (HCSM) and not traditional health insurance. With traditional health insurance, the insured are charged for copays and deductibles and patient responsibility amounts besides the premiums that are sent into the insurance agency. Those who strive to take care of their bodies end up paying to cover those who don’t.
Traditional Health Insurance
Every month, members pay a fee to insurance companies for coverage.
Before the insurance pays any bills, the deductible must be met. Once it’s met, only a percentage of each bill is covered until the member reaches the maximum out-of-pocket. Some insurances have a separate prescription deductible.
Every time a member goes to the doctor, lab, specialist, hospital or picks up a prescription, he or she must pay a copay that does not go towards the deductible.
- Maximum out-of-pocket
All expenses except for co-expenses add together to reach the member’s maximum out-of-pocket. Once it is reached, the insurance cost-shares 100%.
Trinity HealthShare – HCSM
Every month, members send their contributions (premiums) to Trinity HealthShare where they’re deposited into the members’ “shareboxes,” awaiting dispersal to a member’s medical bills.
- Member Shared Responsibility Amount (MSRA)
Similar to a deductible in that it is a set amount that must be met before medical bills are paid, once the MSRA is met, the money from members’ shareboxes are used to cover eligible medical expenses.
Every time a member goes to the doctor, specialist or hospital, a co-expense is paid.
- Maximum out-of-pocket
All expenses except for co-expenses add together to reach the member’s maximum out-of-pocket amount. Once the maximum out-of-pocket amount is reached, Trinity HealthShare cost-shares 100%.
Helping members eliminate expenses, individuals can “see” a U.S. board-certified doctor over the phone or via video chat at no expense. These doctors can make diagnoses, write prescriptions, and make referrals.
In addition to eliminating hidden costs, healthcare sharing ministries encourage a healthier lifestyle by requiring members to sign agreements stating they will abstain from drinking, smoking, drugs, and behavior that will cause harm to themselves. This healthier lifestyle translates into lower premiums and lower medical costs for the membership as a whole. Because of the higher MSRAs, members pay lower premiums. Members can then set aside the savings to help cover the higher MSRA.
Trinity HealthShare is a HCSM and bases its principles of healthcare upon sharing one another’s burdens. With most medical cost sharing programs, individuals come together around a common religious or ethical belief, or both. Members must sign a statement of beliefs in order to join a HCSM.
Learn about how healthcare sharing programs work.
Trinity HealthShare’s healthcare sharing programs are quite simple, with only six steps involved.
Member ContributionYou send your contribution to Trinity
Everyone’s monthly “share” is placed in their “Sharefile“ until it is matched to another member’s eligible bills.
ActivateActivate Your Membership
Activate your membership through our partners website here.
Visit Network DoctorCall the concierge line for appointments
Show your member ID when you experience medical costs. Your doctor should recognize the network.
Doctor Submits BillYour doctor sends the bill to Trinity
Your doctor sends bills electronically to Trinity HealthShare or the TPA for Trinity. Trinity performs an analysis and pays a reasonable amount.
We Share BillEveryone shares in the cost
Members contribute from their “Sharefile“ to your secure online Sharefile account.
Payments To DoctorsDoctors and Hospitals are Paid
Trinity HealthShare pays the shareable amount of medical bills to your healthcare providers, but it will not pay inflated rates.
Affordable quality healthcare sharing programs can be found for those who embrace a healthy lifestyle. No longer does quality have to be sacrificed because of cost. With Trinity HealthShare, there is a viable alternative to traditional healthcare.