WHAT DEFINES AN INSURANCE COMPANY

Although there are some similarities between our HeathShare Connection Program and traditional health insurance, HSC is not in any way an insurance based program.

An insurance arrangement is a contract where one party agrees to be legally responsible for and accept another party’s risk of loss in exchange for payment (otherwise known as a premium). We want to make sure we emphatically state that we do not assume any responsibility to pay claims on behalf of our member employers and members. We also do not use widely used insurance terms such as claims, out-of-pocket costs, deductibles etc.

WHAT ARE THE SIMILARITIES BETWEEN HSC & INSURANCE

A health share organization and an insurance company both spread the cost of individual expenses among a number of people. Insurance companies and health share companies also collect information about medical expenses and arrange for details of payments. While the responsibility of payment for medical expenses ultimately relies on the HSC member, HSC will assist with payment after a non-sharable amount is met.