Looking for health insurance but can not find an affordable option? We found this interesting, hope you do as well.
Americans continue to lose their insurance plans under Obamacare, and with 2015 open enrollment starting on November 15, those with cancelled plans will have to find new ones, or else pay the individual mandate tax. For 2015, the mandate penalty is the greater of 2 percent of annual household income or $325 per person.
Holly Johnson at U.S. News and World Report recommends that those facing insurance cancellations look at health care sharing ministries (HCSMs) before they head to the Obamacare exchanges. As of today, 300,000 Americans across the 50 states are enrolled in HCSMs, which share costs among those of similar religious faiths. Johnson explains:
The result? Sharing ministry plans are much less expensive than other insurance plans. Johnson provides an example: a family of four could purchase traditional insurance for $700 per month, or they could purchase HCSM coverage for less than $200 per month. While they may not cover as many expenses as Obamacare-regulated insurance, they provide catastrophic coverage and are much less costly.
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