Health insurance or health cost-sharing—which is the better fit for your family? 

With open enrollment upon us, it’s the perfect moment to explore your choices. Joining me today is Lauren Gajdek to highlight the key differences between health insurance and health cost-sharing.

Lauren Gajdek is the Senior Director of External Affairs at Christian Healthcare Ministries (CHM), an underwriter of Faith & Finance. 

The Landscape of Traditional Health Insurance

Open enrollment season is right around the corner—running from November 1 through January 15, 2026. For most people, that means navigating the world of traditional health insurance. These plans typically require you to select doctors and specialists within a designated provider network, often necessitating referrals or pre-authorization before receiving care.

While insurance companies provide coverage, their structure can come at a high cost. Premiums and deductibles are often steep, and because insurers operate for profit, patient care and affordability don’t always align. For many families, this creates a significant financial burden.

How Health Cost Sharing Is Different

Health cost-sharing ministries, such as CHM, offer a unique alternative. The end result is the same—your medical bills are taken care of—but the process looks very different.

• No provider networks: Members are free to choose their own doctors and hospitals.
• Nonprofit model: Unlike insurance companies, CHM is a ministry. Members send in a set monthly contribution, which is pooled together to reimburse medical costs.
• Community approach: Instead of being absorbed into a bureaucratic system, members know that their contributions directly help fellow believers in need.

Since its founding, CHM has facilitated over $10 billion in shared medical bills.

How Does Health Cost-Sharing Work?

Here’s how it works for a typical family:

1. Choose your provider. Members can see any doctor or hospital as long as the treatment fits CHM’s guidelines.
2. Identify as self-pay. This allows members to receive significant discounts often, sometimes as high as 40%.
3. Submit bills to CHM. The ministry coordinates with providers as needed. In the meantime, members may set up a temporary payment plan until reimbursement arrives.

The process is straightforward, designed to give families peace of mind while also offering flexibility and savings.

What to Keep in Mind During Open Enrollment

When weighing your options, consider more than just the monthly premium. Ask:

• How much am I actually paying out-of-pocket after deductibles, co-pays, and coinsurance?
• Will my coverage travel with me if I go out of state—or out of the country?

With CHM, members don’t face co-pays or coinsurance, and qualifying medical bills are shared 100% according to ministry guidelines. Additionally, portability makes it an appealing option for families who want flexibility, regardless of where life takes them.

A Biblical Approach to Healthcare

At its core, CHM is more than a healthcare solution—it’s a ministry. Members not only share medical expenses but also pray for one another and receive prayer support in return. Every monthly contribution is a gift that directly helps another member in need.

CHM reflects biblical principles of bearing one another’s burdens while providing a practical, affordable path to healthcare.

To explore whether health cost sharing is right for your family this open enrollment season, visit CHMinistries.org/Faith.

On Today’s Program, Rob Answers Listener Questions:

• I’m refinancing my home and am unsure whether I should roll the closing costs into the new loan or pay them from my investments or retirement accounts. Rolling them into the loan would lower my monthly payment, but is that the wisest choice financially—and biblically?
• Could you explain where the funds actually come from with a reverse mortgage, who technically owns the home in this arrangement, and whether the FHA backs the loan?
• My wife and I recently took a required minimum distribution from her IRA and made a qualified charitable distribution to our church. They told us it wasn’t tax-deductible and wouldn’t issue a receipt. What does the IRS actually require in this situation?

Resources Mentioned:

• Faithful Steward: FaithFi’s New Quarterly Magazine (Become a FaithFi Partner)
• Christian Healthcare Ministries (CHM)
• Understanding Reverse: Simplifying the Reverse Mortgage by Dan Hultquist
• Wisdom Over Wealth: 12 Lessons from Ecclesiastes on Money
• Look At The Sparrows: A 21-Day Devotional on Financial Fear and Anxiety
• Rich Toward God: A Study on the Parable of the Rich Fool
• Find a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)
• FaithFi App

Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources.

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