Are Christian Medical Programs a Good Idea?

Lenny is thinking about dropping his health insurance in favor of a Christian medical expense sharing program. Is this a good idea?

QUESTION: Lenny is thinking about dropping his health insurance in favor of a Christian medical expense sharing program. Is this a good idea? Dave says that many are reliable, but he cautions Lenny to know what is covered and what is not.

ANSWER: There are several programs out there with long track records of always doing what they say. They’re technically not insurance because they’re not backed up by the insurance commissions risk pools or even regulated by the insurance world, but they are reliable.

You need to be careful that you understand what they cover and what they don’t. Know that technically you do not have a guarantee. I wouldn’t go with one that doesn’t have several decades under its belt. MediShare, as an example, has a great reputation.

I don’t have anything against these programs at all. You just need to know that you’re off the grid as far as the normal way of doing things.