Hey guys, they’re here from air, two blue and today I’m gon na be doing another installment of our marital money. Monday series I’m not having seen in this video just because it’s a very loaded, video and I’m the one who knows the most about it, so just to make this as concise and informative as possible. I’M just gon na film this, for you guys so sorry to do a middle money without him, but it just makes the most sense for this video. This is a long requested, video about the difference between cost sharing ministries and insurance/’ target=’_blank’ rel=’nofollow’ title=’insurance‘>insurance, traditional medical insurance/’ target=’_blank’ rel=’nofollow’ title=’insurance‘>insurance, and we have had both in the past we’ve done, traditional insurance/’ target=’_blank’ rel=’nofollow’ title=’insurance‘>insurance through Sam’s employer.
I’Ve had insurance/’ target=’_blank’ rel=’nofollow’ title=’insurance‘>insurance on my own, using like the Minnesota‘>Minnesota online website‘>online website. I didn’t have quote-unquote mnsure as they call it in Minnesota‘>Minnesota, but I had I signed up through that website for my own plan and we’ve done, the Samaritan‘>Samaritan ministries cost sharing ministry, which is the one I’m going to talk the most about just because I have the Most experience with it, but I will also mention the other ones and link you below with very detailed websites that break down on the differences between the different cost sharing ministries if you’re interested. So let’s get started, so most of us are familiar with insurance/’ target=’_blank’ rel=’nofollow’ title=’insurance‘>insurance. Basically, you either sign up through your employer. You might have like a state-sponsored plan that might be a little cheaper if you fall into certain income requirements or you may just sign up at the marketplace for a different insurance/’ target=’_blank’ rel=’nofollow’ title=’insurance‘>insurance.
You tend to pay per month or per pay period depending, and it tends to be pretty expensive on average for a middle class family ever since Obamacare. This isn’t a video, that’s political, but that’s a we’ve seen and we’ve heard about from a lot of people that their insurance/’ target=’_blank’ rel=’nofollow’ title=’insurance‘>insurance was already not cheap and after the Obamacare changes it became even more expensive and sometimes too expensive to the point where a lot of people, I know don’t even have insurance/’ target=’_blank’ rel=’nofollow’ title=’insurance‘>insurance, because it’s too expensive, so they just pay the penalty and are going without insurance/’ target=’_blank’ rel=’nofollow’ title=’insurance‘>insurance, which is a really scary thing. So we want to share with you some alternatives which are during ministry’s now with an insurance/’ target=’_blank’ rel=’nofollow’ title=’insurance‘>insurance. You usually will pay a higher premium per month. If you go with more of a copay system where you have like a flat rate, you pay for certain types of services or you may pay a lower premium. If you have more of a coinsurance/’ target=’_blank’ rel=’nofollow’ title=’insurance‘>insurance plan, where you pay a certain percentage and with insurance/’ target=’_blank’ rel=’nofollow’ title=’insurance‘>insurance, you have a deductible that you pay so much per family per. I mean everything with insurance/’ target=’_blank’ rel=’nofollow’ title=’insurance‘>insurance is so confusing. Every plan is different, but a deductible is basically, you will pay that much for yourself or for your family and then the plan will cover, after that, that’s the really easy way of explaining it. But it’s we all know if we’ve had insurance/’ target=’_blank’ rel=’nofollow’ title=’insurance‘>insurance, it’s a lot more complicated and when you sign up, you really don’t know what it will cover in a certain situation and with medical costs in the u.s.. You never really know how much anything costs when you go into the doctor, there’s no menu of services. Usually so you don’t really know until you get the bill, how much it’s gon na be, so it does make it very confusing and scary. It’S a very expensive thing where you really have little information about it, which makes it really frustrating sometimes okay. So when it comes to cost-sharing ministries, there are three main cost-sharing ministries. You can choose from there’s Samaritan‘>Samaritan ministries which we’ve used in 2016, there’s Christian healthcare ministries‘>healthcare ministries and then there’s one called meta share. Those are the three main ones and I will link in the description, different links to them to different articles explaining the differences. So you can really get a sense, because the things I’ll talk about in this video in general will be applying to all three. But it’s more targeted at Samaritan‘>Samaritan ministries, which is slightly different than the other two. So my best advice would be to research them all. But this video should give you a good sense of what a cost sharing ministry is on the basic level. So the basic premise of a cost sharing ministry is every month. You will pay a certain amount of money and that money will go to a family that has a need, and then, when you have a need, you will publish that need or the cautionary ministry will publish that need and then you’ll receive shares from other people to Cover your need, that is the very basic level of what a cautionary ministry is so you’re, not paying a premium to a company, an insurance/’ target=’_blank’ rel=’nofollow’ title=’insurance‘>insurance company or anything like that. Your money goes directly to a family. Now, with Samaritan‘>Samaritan ministries, you actually make the check out to that family and you get send them the money to their address from you. You can send a little note, other cautionary ministries, you send the money to the ministry and then they distribute it. But basically besides, most of them have we’re like one share a month, we’ll go to the contrary ministry to keep it running, but other than that your money is going directly to help other people who have who are having needs as far as the cost. I can’t speak to the other ones, but our experience with Samaritan‘>Samaritan ministries was at the start of 2016. We paid four hundred five dollars a month for a family of two parents and children. So if we had ten children or two children, it wouldn’t matter it’d be a four hundred five dollars a month midway through the year. There became more needs than there were shares, so we got to vote as a ministry to decide how much we wanted to raise it, and we voted to raise it to 495 for a family like ours of two parents and children, and then it went up for The other amounts as well, but the nice thing is with this system, is that most of the months since that increase, they have prorated our amount to match what was needed so most of those months, we didn’t actually pay for ninety five, we paid like four seventy Or four sixty five, because the amount of needs were actually lower than what they had projected. So that’s really nice that I can fluctuate depending, but that can be a risk as well, which I will talk about in a little bit for the Samaritan‘>Samaritan cost-sharing ministry. It’S a different payment. You pay depending on your family size, so a single person will pay less, then a two-parent two-person couple and then a family of two parents with kids will pay a different amount. And then, if you are a single parent with children, you’ll pay a for an amount, so it all just kind of depends. But it’s nice that no matter how many kids you have you pave that one fee you don’t have to pay per child. So, what’s the máirtín ministries, you can’t talk about it as a as a deductible or a premium. You talk about it as a share or a need, or a publisher publishable amount. So it gets kind of confusing trying to explain this to all of you guys if you have it, if you aren’t familiar with it, but I’m gon na do my best to explain how Samaritan‘>Samaritan ministries works with Samaritan‘>Samaritan ministries, anita’s, considered unpublishable if it’s under 300 dollars. So that means let’s say you’re sick and you have to go to the doctor once and it was 200 dollars that would be considered unpublishable. So that will come out of your pocket. But let’s say you’re sick and you have to go to the doctor three times. For that illness and get a prescription and it ends up being $ 600 that becomes a publishable need. You will pay the first three hundred dollars and then somebody will send you the other three hundred dollars for that need, and you can do that up to three times where you would pay the three hundred dollars and be given the rest of the money. And then, after those three times, anything over three hundred dollars is totally publishable. So even if it was four hundred dollars, you wouldn’t pay the first three hundred dollars. You would get the whole thing paid for, but if it was only two hundred dollars you would it so it gets kind of confusing, but there is that that guidelines. So you guys are aware: that’s how it works. A Samaritan‘>Samaritan ministries. It is different with the other two also with Samaritan‘>Samaritan ministries. If you have something that is not publishable, because it’s too little of amount of money or let’s say you had something that was not publishable like you had an ongoing illness before or you were pregnant before you join Samaritan‘>Samaritan and now they’re not gon na cover the Whole labor, which is one of their guidelines. You can still submit that as a special prayer need and every newsletter you receive that talks about the shares of that month. It will say this person had a special prayer request. This is what’s happening in their life that they would like help with, and they will say if everybody sends $ 25. This need will be completely covered, so you can choose to donate out of the goodness of your heart to that family and it is text text deductible. So it’s not something you have to do. We’Ve done it a lot and we’ve used that before, which is really helpful, but that is one way. If something happened that wasn’t covered, you could still receive some money for it with Samaritan‘>Samaritan. Anything over $ 250,000 would not be covered. However, you can sign up for the safe to share program where you set aside a certain amount of money per month depending on your family size, and then you will be covered for anything over two and a fifty thousand dollars and that extra money will go to Somebody else who has a need that’s over two hundred, fifty thousand dollars, so that’s something we’ve signed up for we had to save about thirty three dollars a month. It was very low cost to us, but it gave us that peace of mind. If something really bad happened to us, that was over two hundred fifty thousand dollars, it would be covered, which is really nice with Samaritan‘>Samaritan ministries and most of the cost sharing ministries. They don’t cover preventative or routine screenings or appointments, so well-child visits. I know meda sure does cover those, but I don’t think they cover the vaccinations. Samaritan‘>Samaritan ministries does not cover those at all, so it’s something you would have to pay for. If you want those, they don’t cover things like mammograms as far as I’m aware or pap smears, or anything like that. That would be something you would budget on top of your monthly share that you give another thing, that’s interesting about it. I don’t know about the other two cautionary ministries, but with Samaritan‘>Samaritan, when we signed up, we actually had a little slip of paper that we had to bring to our pastor that they had to sign off. Of that said, basically, we aren’t cheating on each other. We don’t abuse alcohol, you know we’re active in the church and things like that, just to show that we really do have the beliefs and the lifestyle that fits a Christian, because these are Christian cost-sharing ministries. So the thought is that you would be a Christian going into it and you can’t join if you’re not. This is great. If you are a Christian and you only want to help pay for others, you don’t want to pay for somebody who you know is sleeping around or is unfaithful or is abusing alcohol, or something like that. You actually put your money towards people with similar goals and values and morals, whereas with insurance/’ target=’_blank’ rel=’nofollow’ title=’insurance‘>insurance you pay for whatever the plan covers a lot of times. Men are paying the same premium as a woman, even though a man can’t give birth or a woman might be paying for prostate checks or something, even though we don’t have prostate. So it’s just kind of nice that you have a little bit more control. If you are a Christian, but it is limiting in that, you can’t sign up for these if you’re, not Christian or you don’t have those lifestyles that it supports. Before I talk about the pros and cons, I just want to show what our experience has been with Samaritan‘>Samaritan, so you can get a sense of how it works on a real life basis. So we only had Samaritan‘>Samaritan for one year 2016 and our daughter was just just turn one in February of that year and I started a daycare that year, so we were sick, a lot in the spring. Just from the new germs entering our house, we went to the doctor quite a few times. In the spring we had pinkeye come through three times had to buy eye drops that were $ 70 twice, because we don’t have insurance/’ target=’_blank’ rel=’nofollow’ title=’insurance‘>insurance to help lower those costs. Although Samaritan‘>Samaritan does have a prescription plan that does help lower the cost of prescriptions, but we didn’t realize that till after so that was a little frustrating on our part. We went to the doctor for my daughter’s well child visits and we had to go in for the pinkeye. I went into a fast care clinic for a strep test. It was negative, but I was really really sick, so I want to make sure if it was jump I could get in so that was $ 80 and and then we went in for the pinkeye a couple times. They ended a virtual clinic a couple times for the pinkeye, so we wouldn’t have to pay $ 80. It was really like $ 45 to go in so altogether in about two months, that was about $ 900 of expenses, but unfortunately, because none of those individual instances were over $ 300, it was like $ 250, for this instance $ 80 for this $ 280. For this $ 100 for this, so many dollars for these eyedrops $ 70 for these altogether it equaled nine hundred, but none of that was publishable at all, because none of it for an individual occurrence was over $ 300. So that was very frustrating. We ended up because money was really tight for us at that time. I just started the daycare. I wasn’t full completely waited up signing up to do a special prayer request and we did receive about $ 300, but we did not receive that. I think we submitted in March – and we didn’t see any money from that until I want to say August, so it took a while. We had mostly paid it off at that point, but it does take a while, especially for those special prayer requests and just getting all them bills and everything, so you can submit it. It does take some time. One way it’s worked really really well for us, though, is that my husband and has started having back pain, so he’s been going on the chiropractor/’ target=’_blank’ rel=’nofollow’ title=’chiropractor‘>chiropractor twice a week, which is pretty expensive on a monthly basis, but with Samaritan‘>Samaritan ministries. If you have a chiropractic need and it’s covered, which you would have to call and just explain it to them and they’ll tell you if it’s covered or not, you can be seen and get adjusted 40 times in one year and it also covers the x-rays. So you would pay the 300 dollars and then anything over that is covered in a one-year time frame up to 40 adjustments. So we’ve been just on a monthly plan with the chiropractor/’ target=’_blank’ rel=’nofollow’ title=’chiropractor‘>chiropractor and we pay that automatically and then we get checks from Samaritan‘>Samaritan that basically covers it, which is really really nice we usually will submit at the start of the month for the month prior. So for December we submit at the beginning of January all of December’s bills, and then we usually see that money for December in about February or March. So it is a little delayed because of all the you have to have the bills and then you send them in and then they process them and they send them to a family. And then the family sends you the check, so it does take a while. So that is one thing to keep in mind, so the pros of a cost sharing ministry is as follows. You only have to pay for people who have a like-minded value system as you, which is really nice. You help others in need directly you’re, actually giving somebody money for something they’re struggling with to help them get better to help them financially, which is really really awesome, and I know a Samaritan‘>Samaritan is so nice that every month we actually can pray for those people and Send them a letter of encourage with our monthly share, which is wonderful, especially when you’re on the receiving end. We received a lot of prayers and wonderful notes that were really wonderful to read and just helped lift us. The monthly price is often cheaper than insurance/’ target=’_blank’ rel=’nofollow’ title=’insurance‘>insurance, which was a huge draw for us. It really does help you and kind of force you to learn more about the health care system, which, i think is a good thing, can be a little frustrating at times, but you really do become more hands-on and know how the system works. Know the real cost of things when you’re not submitting to insurance/’ target=’_blank’ rel=’nofollow’ title=’insurance‘>insurance, and I think it does help you become a more mindful consumer and we’re mindful citizen. When you go to vote because you do know more about the healthcare system‘>healthcare system, because it’s not just submitted to your insurance/’ target=’_blank’ rel=’nofollow’ title=’insurance‘>insurance, you actually get the bills for everything with samaritaine a whole labor and delivery costs only $ 300. It’S all considered one thing, so you pay the $ 300 and then they’ll pay the rest, no matter what kind of birth you have, which is really awesome, and if you do a midwife/’ target=’_blank’ rel=’nofollow’ title=’midwife‘>midwife, if the Midwife is recognized by Samaritan‘>Samaritan, they actually pay the entire thing. So it would be a free birth, which is unheard of, which is really awesome. I do have a long list of cons, although I think a lot of the pros outweigh the tide. Ooh just want to mention them to make this a really thorough video. The biggest drawback of this type of system on in my experience, is that it’s just a tremendous amount of work. It is a lot of work to get a detailed bill. They want to know exactly what you’re going in for what it costs if there are any discounts and that kind of thing which can be hard to get from a hospital or a clinic, because sometimes they just code it for insurance/’ target=’_blank’ rel=’nofollow’ title=’insurance‘>insurance purposes. But the cost sharing ministry wants a detailed list of exactly what was billed and why and that kind of thing which can be very hard, especially with bigger hospitals, where you have all different departments and billing systems, and things like that. It can be very complicated, which just makes it take more time, and it does take a long time to get your money, and so you may have to pay some of the bills, upfront or all of them or get on a system, a payment system or something Like that, in the meantime, until you get the money and sometimes you get it in monthly amounts, and sometimes you get a whole amount depending on how you’re going about submitting it, another drawback is that you’re, technically a self-pay client when you go into the hospital or The clinic, you are a self paid patient and what that means is you don’t have insurance/’ target=’_blank’ rel=’nofollow’ title=’insurance‘>insurance, so they may bill you differently. They may bill you higher, they may value lower. It depends on the situation. Something we ran into ourselves is that we have had trouble with infertility and we wanted to go into the urologist to get a semen analysis to see where we’re at before we start trying for another child and just to go into the urologist. We would have had to pay a $ 5,000 deposit just to see the urologist not even to have anything done, but just to get in because we’re a self-pay patient and that’s a little crazy in my opinion, but that’s what they would have a lot. That’S what they would have required, so that is something to keep in mind. If you may need to go see a doctor in a certain area of specialty, you may have to pay a really big deposit. Another drawback is that you will have to budget preventative and routine visits, depending on the cost, sharing ministry and things like vaccinations which, if you have young children, or you have to be seen often for certain things. It can be kind of expensive. On top of your monthly share, so that is something to keep in mind when you’re budgeting the pros and cons when you’re budgeting the differences between insurance/’ target=’_blank’ rel=’nofollow’ title=’insurance‘>insurance and a cost sharing ministry. The frustrating thing with Samaritan‘>Samaritan ministries in my eyes is that it doesn’t work like a traditional deductible where every amount you pay goes toward a certain amount, because they have that three three hundred dollar limit. I guess you could say it does get frustrating like in our situation where a lot of bills were just under 300, but none of them went towards the three, because none of them were just 301 dollars, so it does get kind of frustrating when you have that Amount to hit, but your bills keep not hitting it and nothing and we paid $ 900, but it’s not going towards anything. Another drawback that can be kind of risky is that if there are more needs than there are shares in a month, those needs will most likely be prorated. So let’s say you have a $ 200,000 bill and they prorate it so that you only get nine percent of the shares. That means you’re gon na be paying twenty twenty thousand dollars out of your pocket, whereas before it would have only been three hundred, so that can be a little risky, a little scary, but depends on your situation if that’s worth it to you. So, overall, our thoughts aren’t cost sharing. Ministries is that they are really great in certain situations if you have extremely outrageously expensive premiums through your work or on your own, like if you’re an entrepreneur/’ target=’_blank’ rel=’nofollow’ title=’entrepreneur‘>entrepreneur – and you can’t get a through your work plan and it’s really expensive on your own. It can be a great option. It can also be a great option. It can also be a great option if you’re, just sick of paying for things that you don’t use or for paying for services that you don’t agree with like birth control. If that’s something you’re against and you don’t want to pay for that on the plan, you can do a cost sharing ministry where that’s not even an option and you’re paying people directly. It also is just great if you want to directly help other people and be a part of something bigger with insurance/’ target=’_blank’ rel=’nofollow’ title=’insurance‘>insurance, you’re part of a you’re paying a company basically, but with a cost or a ministry. You are a member, you get to vote and you get to be a part of it and be a community, and it is it’s a more positive experience overall than it is just to be a number to an insurance/’ target=’_blank’ rel=’nofollow’ title=’insurance‘>insurance company. It’S definitely something we will consider again in the future. Right now we have decided to go with insurance/’ target=’_blank’ rel=’nofollow’ title=’insurance‘>insurance again as fans work. My husband’s and his work has offered really low priced insurance/’ target=’_blank’ rel=’nofollow’ title=’insurance‘>insurance. Compared to our cost-sharing Rose Street for 2017. They changed plans and things. So it’s it’s cheaper, which is really nice for us, so we’re gon na go that route for this year, but we definitely will consider again in the future if, for some reason, we’re both self-employed or the insurance/’ target=’_blank’ rel=’nofollow’ title=’insurance‘>insurance becomes outrageously priced again. I hope this video helps you guys. I have wanted to make this for quite a while. That is confusing to talk about. If you have any questions, I will be happy to help. I’M no expert, but we have done it for a year and I’ve researched it. A lot so we know a lot about it and also, if you’re interested in more information on mastering those trees, be sure to check out the links below there’s some websites that have divers incredible job, putting together different charts. So you can actually compare side-by-side the different fashion industries that know what’s covered and what you would pay, and things like that, which is very helpful, is something I couldn’t do in the video format. So thank you guys so much for watching. I hope this video helped.