The Cost of Healthcare - 2023

"As a group, the companies (Centene, Cigna, CVS/Aetna, Elevance/Anthem, Humana, Molina and UnitedHealth Group) saw their total revenues increase from $618.2 billion in the first half of 2022 to $683.8 billion during the same period this year. Their profits, meanwhile, grew from $37 billion to $40.2 billion.Sep 6, 2023...."

This headline is the first article that pops up on Google when you search health insurance company profits for the year 2023.

Of course, in a capitalist society, profits are expected. And that's OK....to a point.

But when it comes to healthcare here in the U.S., it seems that the insurance companies raise their rates so that they will earn another 10-20% over the next business cycle...whether their costs have gone up, or not. Seems with these companies, it's all about the profits. And the more, the better. How can we stop this?

One option is the Healthcare Sharing idea. Members helping members. And the one program that I refer people to is Impact Health Sharing.

Impact Health Sharing is a non profit. That's a clue right there. They have partnered with ACN to help market their program. The idea of health sharing is not new, although it is the first I've learned of it. Health Sharing started about 4 decades ago in the church communities. When the Affordable Care Act was passed, there was a provision that allowed members of a Health Sharing program to not be penalized for not having insurance. The Health Sharing program counted as coverage. Most of these programs were not open to all people...you had to be a member of that community. So it was not a universal option. Impact Health Sharing is changing all of that. They are bringing their program to all the people.

Being a non profit, the money coming in goes to pay for the member's eligible medical bills, and administration costs to do business. Impact does not have that built in conflict, that most all insurance companies do, of denying payment for a medical procedure, or, increasing profits for share holders. This is huge when it comes to the cost, and who can afford access to healthcare.

I'm experiencing this healthcare issue first hand. As of this past Friday, my wife's department was shut down. Her job provided our healthcare coverage. Things have changed a lot since the last time we had to find coverage for ourselves outside of the employer. And I have changed my position on this practice. I no longer feel it is the employer that should be the gate keepers to our healthcare coverage. Most businesses get the least expensive plan, and typically, these plans cover very little. A real waste of time and money, in my opinion.

So when I started researching plans, I couldn't go to Blue Cross/Blue Shield like I had in the past. They no longer offer medical coverage in my area...what? So next, I tried Anthem, their parent company...same thing. All that they could offer in my area is dental and vision. Their websites direct you to go to Healthcare.gov to get coverage. So I went there. Had to create an account, and they want to know your income, as well as other info, not much about your health. I get the concept behind the ACA. It is partially subsidized by those that make more money than many others. However, the pricing of these plans, whether you choose lower premiums and higher deductibles, or higher premiums to get lower deductibles, are insane! They run anywhere from $1,700.00-$2,224.00 and higher (see photo above). And these are just your premiums. You still have more money to pay out of pocket in the form of deductibles, and provider fees, on top of these premiums. You have 3 levels to choose from-Bronze, Silver, and Gold. This is not the Olympics. This is not excellence! This to me looks like pure greed. Let's charge as much as we can until someone stops us.

So, not being happy with what I'm finding on this site, I checked into Impact Health Sharing. I read their guidelines. I understand what is considered an eligible bill to be shared. I understand their pre-existing conditions stance. Being in relatively good health, this sounds pretty fair to me. Though it is designed for mostly healthy people, it is not for everyone. There are exclusions for pre-existing conditions. These conditions would not be shared with the members. However, even with those conditions, Impact negotiates every bill on your behalf, as if you are a cash customer. So even if you have to pay the full price for treatment, your bill will be lower because of these negotiations. You are not paying extra for the procedures and care you receive with Impact Health Sharing, such as for someone that is uninsured, under-insured, or for the profit the insurance company would like to make off of that procedure. And they can also help lower your prescription costs too.

The more I learn about the Health Sharing Idea, the more I like it. And Impact Health Sharing has the software platform to make this transparent, and timely when it comes to paying the doctors, medical centers, and other providers (less than 30 days). I'm sure that would make doctors happy. Many other Health Share providers put a lot of the work on you to get the bills from the doctor, get the money from the members, then pay the bill. A lot of work for the patient...I'm not into that. Some others will reimburse you once you've paid the bill and sent in your claim for reimbursement. Impact's platform allows for the provider to file your bill electronically, just like typical insurance. That's a good thing. It works like insurance, but it just feels better!

You can also see, using the member portal, where your money is going to help other members. It does not show what medical condition they have, just who you are helping. A more human condition. The other thing I like is that there are no networks...see the doctors you want, without worrying if they are in or out of network. I've been hit with that surprise this past year. The Doctor was in network, but the anesthesiologist was not...you had to pay more for that.

In summary, the cost of healthcare in the U.S. has gotten out of hand. If you go without any kind of coverage, you are taking a huge gamble. One accident or illness could ruin a family-wipe out all your savings.

But looking at the plans I've researched and shared here, this is a huge percentage of most families income. And you can't get this money back! Many families have to choose between paying the mortgage, rent, groceries, gas, debt, etc.

I'm presenting an option they may work for you, your family, and, it is also available for small businesses and groups, of 49 employees or less.

I've attached several more screen shots that I took while trying to compare the plans available in my area. These apply to my family, and where we live. Your plans and pricing may be different. I'm also posting my quote from Impact Health Sharing below....Half the cost! That is pretty impressive!

If you'd like to get a quote for you and your family, use the link below, and follow the prompts. https://www1.impacthealthsharing.com/?referral_id=011385276

I really feel like this Impact Health Sharing is a viable option for many families, and in my own small way, something that I can do to help 'fix' what's broken with our Healthcare situation in America.