What is a Healthshare

Understanding why a healthshare is less expensive than health insurance is simple: you’re paying less because you aren’t buying as much. Just what’s necessary for you.

Healthshares also offer a concierge service. This is a team of professionals who help you make decisions about your health and guide you to the most cost-effective options.

According to Steven Brill’s now infamous Time magazine article Bitter Pill, the cost of medical services can vary by tens of thousands of dollars from hospital to hospital and from person to person. 

While insurance companies will just pay the rate the hospital asks for, healthshares are free to find the provider with the best rate and use them, further driving down costs. 

Healthshares also use this experience to negotiate fair rates for member’s medical services.

How much can I save?

A typical savings for health-conscious individuals is around 40%. For families, it can be as high as 70%. The savings are on the monthly premium and the deductible, or the “member contribution” and “member responsibility amount” in healthshare terms.

Of course, every circumstance is different, and savings will vary from person to person. You can head over to our PLANS page and review your options, or you can check out our SAVINGS CALCULATOR to see the money-saving potential of your new healthshare plan.

If you are a self-employed person, you know how challenging it can be to find affordable healthcare.

And, you may have heard that healthshares can cost a lot less than a traditional insurance plan.

But you’re probably wondering what a healthshare is if it’s not insurance. And, you’d like to know if there’s a catch.
After all, if it sounds too good to be true…

So, let’s talk about what a healthshare is, how it saves its members money, and how it’s different from conventional health insurance. Starting with the most obvious question…

What is a healthshare?

Instead of paying a premium and deductible with additional out-of-pocket costs throughout the year, a healthshare is made up of members who pay a monthly contribution to the community. The community shares the costs of a medical need after the member pays their “responsibility” or set amount.

Health insurance and healthshares share the same basic principle: to make the cost of healthcare predictable – mainly when unexpected health problems arise. But, there’s a big difference too.

22

Years of Healthshare History

2 Million

healthshare members & growing

1 Billion

in benefits paid

What is the difference between a healthshare and health insurance?

By being a member of a healthshare, you are taking a proactive approach to managing your healthcare needs.

The most significant difference between health insurance and healthshares are that healthshares aren’t governed by the Affordable Care Act (ACA.)

Because of that, the terms a healthshare uses have to change so that healthshare companies aren’t presenting their product in a way that looks like insurance.

So, a “premium” becomes a “contribution” or “membership.”

A “deductible” becomes a “member responsibility, or unshareable amount.”

A “covered” medical expense becomes a “shared expense” with the community.

And a “claim” becomes a “need.”

Where the difference really matters is in what “needs” can be “shared” with the community vs. what is “covered” by an insurance company. The ACA mandates health insurance companies to cover all kinds of things that not everyone needs. That means that you often wind up paying for things you never use.

Healthshares are different. Because they aren’t insurance and aren’t regulated by the ACA, they are free to carefully select members and tailor their plans to meet only those members’ needs.

Here’s a great example: let’s say you have seasonal allergies and you need a prescription once a year so you can get some relief. With an insurance plan, you’ll go into an office, speak with a receptionist, who will then put you in an exam room so you can see a nurse, and then, finally, your physician.

Your healthshare will connect you with a provider either by phone or virtually. You won’t pay for the office, receptionist, exam room or nurse. You’ll only see the doctor – who will write you the same prescription.

Practices like these dramatically reduce the cost of “everyday” medical care. That means there’s a lot left over in the pool for major medical expenses and emergencies. So, your monthly contribution remains small and affordable.

So why wouldn’t a healthshare be right for me?

Healthshares also offer a concierge service. This is a team of professionals who help you make decisions about your health and guide you to the most cost-effective options.

According to Steven Brill’s now infamous Time magazine article Bitter Pill,  the cost of medical services can vary by tens of thousands of dollars from hospital to hospital and from person to person. 

While insurance companies will just pay the rate the hospital asks for, healthshares are free to find the provider with the best rate and use them, further driving down costs. 

Healthshares also use this experience to negotiate fair rates for member’s medical services.

How do I know my healthshare will pay for the medical expenses I need?

One of the difficulties with healthshares is that they can differ significantly from one to the next. Unlike insurance, there is no mandate from the government saying what a healthshare must cover. Each plan and provider constructs their plan to fit their members’ unique profile. Finding the right healthshare can be a time-consuming process.

That’s where indipop comes in.

We have curated a list of plans that specifically serve different kinds of self-employed people, whether you are a gig-worker, freelancer, a solopreneur or a small-business owner.

Our SEE PLANS page will help you find the right plan based upon your commitment to your health, age, prescription needs, family situation and other factors.

indipop doesn’t just help you find your plan; we stay with you, providing valuable perks and ongoing guidance. You can find out more ABOUT indipop here.

How much can save with one of the indipop healthshare plans?