CHM: Healthcare Solutions in Tough Times With Lauren Gajdek

Show Notes

A lot of economists are scratching their heads these days over why the economy hasn’t already slipped into recession. So it seems we’re overdue. We’ll talk with Lauren Gajdek about a way you can be better prepared to cover healthcare costs.

Lauren Gajdek is Vice President of Communications and Media at Christian Healthcare Ministries, an underwriter of this program. 

• The economy is continuing to grow at a modest rate, but how long will that continue? The Conference Board, which is a nonprofit business research group, is now predicting a 99% probability of a recession in the next 12 months.
• If a recession hits, unemployment will go up and a lot of folks will lose employer-sponsored health insurance. 
• WHAT ARE THE ALTERNATIVES IF YOU LOSE YOUR HEALTH INSURANCE? 
• One option is called Cobra, and that is an extension of the health coverage that you would have with your employer. The downside of Cobra is that it can be very expensive, because your employer is no longer subsidizing the cost of your health care. So you are paying 100% of that. And then sometimes there's also an administrative fee.
• Another thing that folks can do is they can go to the healthcare marketplace at healthcare.gov. But again, you're going to find that unless you get a government-subsidized plan, those can also be quite expensive. 
• But there is a third alternative, which is not insurance, but has the same end result in that your medical bills get taken care of: 
• CHRISTIAN COST-SHARING
• Christian Healthcare Ministries is not insurance. It’s a cost-sharing service built on the 
• wisdom found in Galatians 6:2, “Bear one another's burdens, and so fulfill the law of Christ.”
• But it is an effective way to take care of your medical expenses, while you're sticking to your Christian beliefs, and also to your budget.
• CHM offers several different tiered programs: 
• Their Silver and Bronze programs are essentially hospitalization and surgery only. 
• Then there is their Gold program, which is a little bit more flexible. Here’s an example: 
• Suppose your 10-year-old son was climbing a tree and fell out of the tree and broke his arm. Everything related to that incident under the Gold program would be eligible for sharing.
• That would cover the ER visit, as well as any medication that he might be prescribed, follow-up doctor visits, and removal of the cast. 
• WHAT IS THE COST? 
• You can expect to pay between $90 and $235 per month. They also have an extra program called Brother's Keeper, which for an additional $22 a month, shares any catastrophic health events that you might experience.
• CHM has been serving the Body of Christ since 1981 with more than $9 billion in shared medical bills shared. 
• To learn more about Christian Healthcare Ministries, visit CHMinistries.org.

On this program, Rob also answers listener questions: 

• Is there a way to show the uncashed money orders belong to you if you’ve lost the proof of ownership? 
• When does it make sense to take money out of the market to make home improvements?
• Will the Yen overtake the U.S. Dollar globally? 
• How should a person in his 20s go about creating a sound financial plan? 
• What are the rules and guidelines surrounding the purchase of bonds? 

RESOURCES MENTIONED:

• Monster.com
• Indeed.com

Remember, you can call in to ask your questions most days at (800) 525-7000. Also, visit our website at FaithFi.com where you can join the FaithFi Community, and give as we expand our outreach.