Rising Healthcare Costs: Is There Another Way? with Lauren Gajdek

One option is COBRA, which allows someone who has lost employer-sponsored coverage to keep the same plan for a time. But COBRA is often very expensive because the individual is typically responsible for the full cost of the plan without employer assistance.

Another option is the health insurance marketplace at Healthcare.gov. For those who qualify for subsidies, this may provide some relief. But without subsidies, marketplace plans may still be difficult to afford.

A third option is medical cost-sharing through an organization such as Christian Healthcare Ministries. CHM is not insurance. Instead, it is a community of believers who voluntarily come together to help share one another’s eligible medical expenses.

How Medical Cost-Sharing Works

Most people are familiar with the traditional insurance model: premiums, deductibles, provider networks, and claims. Medical cost sharing operates differently.

CHM describes this as “assurance” rather than insurance. Members are supported not only financially but also spiritually by a community of believers committed to helping one another.

Christian Healthcare Ministries has been serving members for more than 40 years and has shared more than $13 billion in medical costs.

What Does It Cost?

CHM offers several programs designed to fit different household needs and budgets.

Their Gold program is $299 per unit per month. Silver is $169 per unit per month, Bronze is $115 per unit per month, and CHM also offers a senior program for $119 per unit per month.

Costs are based on household size and the number of participating members. Dependent children can participate as one unit, and no family pays for more than three units.

For some families, that structure may provide a more affordable way to manage health care costs while staying aligned with their values.

A Values-Aligned Approach

Health care decisions are both practical and personal. Families need to consider costs, coverage needs, medical history, risk tolerance, and how each option fits their overall financial plan.

For those seeking an alternative to traditional insurance, medical cost sharing may be worth exploring. It offers believers a way to come together in community, helping one another carry the burden of medical expenses.

On Today’s Program, Rob Answers Listener Questions:

• I’m 71 and receiving a survivor Social Security benefit from my late husband. I’ve worked for years, but was told my own benefit will always be lower. Is that correct, and is there anything I can do?
• I applied for Social Security Disability after a stroke and am still waiting. As a self-employed mechanic, it’s getting harder to work. If I’m approved, can I still work at all without losing my benefits?
• I’m a stay-at-home mom with a small business and a few hundred dollars to invest, with plans to add more over time. Where should I start?
• I’m retired on Social Security with a very low income and small annual losses from cattle. Do I still need to file a tax return, or am I exempt?

Resources Mentioned:

• Faithful Steward: FaithFi’s Quarterly Magazine (Become a FaithFi Partner)
• Christian Healthcare Ministries (CHM)
• Healthcare.gov
• Schwab Intelligent Portfolios®
• SSA.gov (Social Security Administration)
• Our Ultimate Treasure: A 21-Day Journey to Faithful Stewardship by Rob West
• Wisdom Over Wealth: 12 Lessons from Ecclesiastes on Money
• Look At The Sparrows: A 21-Day Devotional on Financial Fear and Anxiety
• Rich Toward God: A Study on the Parable of the Rich Fool
• Find a Certified Kingdom Advisor® (CKA)
• FaithFi App