Glossary of Health Care Terms
ACA (Affordable Care Act)
Health Sharing Ministry
In a nutshell, health sharing ministries (or medical cost sharing), are a group of like-minded individuals who agree to come together and help each other pay their medical expenses. These faith-based programs are a community-way to manage unforeseen medical expenses.
Health-sharing ministries are exempt from the requirements of the Affordable Care Act, and if you have one of these plans you are exempt from the tax penalty imposed by not having a “traditional” health care policy.
These faith-based health sharing plans are not considered “health insurance” per se, but your status as a member of one may allow you to be reimbursed for some of your medical expenditures.
A few of the major health care sharing ministries are: