Impact Health Sharing, which is a faith-based healthcare-sharing organization headquartered in Davie, Florida, has reached an incredible milestone. On or before March 1, 2024, the organization will have paid more than $15 million in eligible medical expenses on behalf of its members since launching in 2020.
Phil Chrysler, Impact’s CEO said: “We continue to have double-digit membership growth month over month. In February 2024, new memberships rose by 61 percent compared to February 2023. Our community now comprises more than 13,000 lives and we are proud of our work in creating a more affordable and accessible healthcare solution.”
Such high prices for traditional health insurance premiums, deductibles, and out-of-pocket expenses raise interest in health-sharing programs such as Impact. It is through such healthcare sharing that someone can get a much cheaper solution for individuals, families, or small businesses desperate for relief from the burden of conventional health insurance plans.
A Community-Based Approach to Healthcare Sharing
Impact Health Share runs on a model whereby members pool together to share the cost of eligible medical expenses. Members determine a “Primary Responsibility Amount” (PRA)-similar to an insurance deductible that best suits their financial situation. Once medical expenses are incurred, eligible bills are paid anonymously from one member to another through Impact’s streamlined platform.
“Our innovative technology and transparency guarantee that every transaction is safe and easy, Chrysler added. “Members receive a detailed monthly report showing them complete transparency into how their contributions are used to help those in their community.”
Impact has achieved this reputation by having a seamless, tech-enabled system that allows its members to participate in healthcare sharing while clearly seeing where their funds go. These efficiencies combine with a strong commitment to faith-based principles to drive the rapid expansion of the organization over the last four years.
An Emerging Solution for Small Businesses and Entrepreneurs
With increased healthcare costs, entrepreneurs and small-scale businesses, in their constant look for cheaper options of healthcare coverage different from the established health insurance, find Impact small business health sharing as a better cost-effective alternative to pay for medical costs through membership as open to people of faith who are willing to share and save on healthcare expenses.
“Our members are individuals and small business owners looking for a better healthcare solution for their family and staff,” added Chrysler. “The community feedback has been overwhelmingly positive. They join Impact-and stick around because it’s comprehensive, secure, and provides that peace of mind they need to stay covered. In 2024, we’re on track to pay more than $8 million in eligible medical bills for our members.”
About HSA for America:
HSA for America is one of the most reliable healthcare solution leaders who provide affordable healthcare to individuals, families, and businesses across the United States. The company has dedicated its primary focus to health-sharing plans and HSAs while being devoted to assisting clients in cutting through such high medical expense relief and regaining control over healthcare decisions.