What do you do when the cost of staying healthy begins to strain the family budget?

For many households, health care has become one of the biggest financial pressures they face. Groceries, utilities, and everyday expenses are already stretching families thin. But medical costs often feel like they are in a category of their own.

Even when traditional coverage feels out of reach, families are not without options. That’s why Lauren Gajdek, Senior Director of External Affairs at Christian Healthcare Ministries (CHM), joined the show today to discuss medical cost sharing, how it works, and why more families are taking a closer look.

The Pressure Families Are Feeling

Many families are still dealing with the effects of higher prices across the board. While inflation may have cooled in some areas, that does not mean prices have returned to their previous levels. Groceries, utilities, housing, and other essentials still cost more than they did before, leaving many households with less room in their monthly budgets.

Health care adds another layer of pressure. Employer-sponsored family health insurance can now cost thousands of dollars each year when accounting for both employer and employee contributions. Marketplace plans can also be expensive, especially for those who do not qualify for subsidies. Behind those rising premiums are the increasing costs of hospitals, medications, and other medical services.

For families trying to manage their resources wisely, those numbers can feel overwhelming.

What Options Are Available?

When traditional health insurance becomes too expensive, families may begin looking for alternatives.

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.

With Christian Healthcare Ministries (CHM), members receive medical care from their provider and then work with that provider to receive the bill directly. The member submits the bill to CHM, and eligible medical costs are shared or reimbursed in accordance with the program guidelines.

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.

Christian Healthcare Ministries is a longtime underwriter of Faith & Finance, and many listeners—as well as some members of the FaithFi team—have used CHM for years.

To learn more, visit CHMinistries.org/FaithFi.

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:

Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources.

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