How cost-conscious families are cutting health care expenses this year

(NewsUSA) - Health insurance premiums have risen sharply again. Enrollees in Affordable Care Act marketplace plans who stayed with the same coverage are paying an estimated 114% more on average after enhanced federal tax credits ended, according to KFF, a health policy research nonprofit. As a result, millions of families are facing higher bills or going without coverage altogether. For households already living paycheck to paycheck, the numbers simply do not add up. More Americans are turning to another option: a different way to help pay for medical costs that has existed for far longer than many people realize.

That option is known as healthcare sharing, a nonprofit approach in which members make a monthly contribution rather than pay a premium, and those funds are used to cover one another’s eligible medical expenses. The model has been around for more than 40 years, and participation has expanded quickly in recent years, growing from 160,000 members in 2014 to an estimated 1.7 million now, as people look for ways to keep more of their income while still maintaining access to quality care.