Maximizing Health Care Savings for Entrepreneurs
DISCLAIMER: This article is contributed by Albert Huizing from Move to Sioux Falls & SoDak Stays, a valued member of Startup Sioux Falls. The views expressed are the author’s and do not necessarily reflect our official policy or experience. Startup Sioux Falls does not endorse or guarantee the accuracy of the information. Readers should conduct their own research and consult professionals as needed.
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Maximizing Health Care Savings for Entrepreneurs
With health insurance premiums, deductibles, and out-of-pocket costs rising annually, there’s growing interest among entrepreneurs and small businesses in health care sharing, an affordable alternative to traditional health insurance plans.
One such entrepreneur is Albert Huizing V, Owner of Move To Sioux Falls & SoDak Stays, who made the switch from Christian HealthCare Ministries Sharing to Impact Health Sharing. “The rising costs and complexities of traditional insurance were becoming unsustainable for my family and business,” says Albert. “The upfront costs of Christian HealthCare Ministries led me to explore other options. Impact Health Sharing takes care of costs upfront and then bills me, which makes managing expenses much easier. Additionally, the annual deductible, rather than a per-incident deductible, has been a significant benefit for us.”
Impact’s community of members agrees to pay eligible medical expenses for other members. Each member chooses a Primary Responsibility Amount – comparable to an insurance deductible – that fits their family budget. Eligible medical expenses are paid anonymously from member to member, with distinct technology sophistication, transparency, and oversight in detailed monthly reports.
Benefits of Health Care Sharing
- Cost Savings: Health care sharing typically involves lower monthly costs compared to traditional insurance plans, making it a more affordable option for entrepreneurs.
- Community Support: Members benefit from a community-driven approach where contributions help fellow members cover their medical expenses.
- Transparency: Detailed monthly reports and sophisticated technology ensure members know how their contributions are used, promoting trust and accountability.
- Flexibility: With various Primary Responsibility Amounts, members can choose a plan that best fits their budget and needs.
For More Information
To learn more about health care sharing and how it can benefit your business, reach out to Albert Huizing at [email protected].
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