Inspiring Grace and Compassion in Our Members
What is a Health Care Sharing Ministry?
A Health Care Sharing Ministry, or HCSM, is a faith-based 501(c)(3) nonprofit organization that allows community members who have similar religious and/or ethical beliefs to share in the expense(s) associated with qualified medical needs.
Common Features of HCSMs
In 2021, over 1.5 million Americans participated in HCSMs, which is continuing to grow every day. HCSMs community guidelines may vary slightly, but they typically feature:
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Faith-based and 501(c)(3) nonprofit organizations consisting of like-minded individuals with common religious or ethical beliefs
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Members submit voluntary monthly contributions that are used to share in one another’s eligible medical needs
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Members are expected to adhere to a healthy and low-risk lifestyle and take an active role in their healthcare decisions
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Often serves as an alternative to traditional health insurance (not a replacement of) with many flexible, cost-effective sharing options
Jericho Share’s Member-to-Member Sharing
When a member needs medical services, they can choose to go to any provider or facility. The member receives the necessary services, and then the provider verifies eligibility. The provider submits medical needs to Jericho Share. The medical need is processed according to the HCSM’s specifications, and then the provider receives shared funds from the members of Jericho Share.
How Does Member-to-Member Sharing Work?
Advantages of Joining an HCSM
An HCSM provides flexible and cost-effective sharing options to its members. There are many advantages of joining an HCSM:
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Can join at any time without a qualifying event
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Cost-effective — Able to choose from a variety of sharing options that fit your needs and budget
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Not affected by employment status — Great option if you’re self-employed
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Membership cannot be canceled for developing a medical condition
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As a nonprofit, HCSMs are closely regulated, there is less financial overhead, and the membership is beholden to its members, not shareholders
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Faith-based community of individuals who share similar views and have a voice when it comes to managing the membership
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Can be audited annually by an independent accounting firm to ensure financial stability
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Membership financials are public and available upon request, providing transparency and financial oversight
Have questions about Jericho Share, please call us at 866-545-2955.