The Law of Large Numbers in Medical Cost Sharing

One medical incident can cost thousands of dollars; a sum that doesn't fit into the most household budgets. However, rather than trying to manage these expenses alone, individuals can come together to take advantage of the law of large numbers, a mathematical principle that has significant implications for healthcare.

The law of large numbers says that the more times a process is carried out, the closer to the expected average the results become. For example, when flipping a coin, the expected average is to get heads half the time and tails half the time, but in just 10 coin flips, it would not be too extraordinary to end up with 3 heads and 7 tails. However, if a coin was flipped 1,000 times, the result would be much closer to the 50/50 average that was expected.

Where healthcare is concerned, the law of large numbers can be applied to the medical costs of people who come together as a group, such as the membership of Liberty HealthShare.

Read the rest of entry »

What To Do If You Ever Need Surgery

In the town of Hutchison, Kansas there is a little known, exciting secret. And it's not just in Hutchinson. It may be in your town too. It could be a place you pass every day without realizing what it could be doing for you. What is it? A surgery center. 

Surgery centers are medical facilities that provide outpatient surgeries and other short-stay procedures. You may or may not be aware that most outpatient procedures can be performed in local surgery centers.

Read the rest of entry »

Don't Become A Victim Of Balance Billing

What Liberty HealthShare members should do if they find themselves in this predicament. 

The Liberty HealthShare payment schedule to medical providers has been shown to be a simple and fair system. However, even after accepting payment for service, some medical providers engage in what is called balance billing.

Read the rest of entry »

Update on Credit Card Transactions

Making Liberty HealthShare cost sharing better and more efficient.

To save our members on banking fees and to bring more efficiency to our sharing systems, we are moving to a single monthly debit/credit card transaction, rather than two per month.

Read the rest of entry »

Understanding Medical Cost-Sharing

In this short video, Liberty HealthShare Executive Director Dale Bellis explains medical cost-sharing and why it restores healthcare freedom to members.

Read the rest of entry »

Not Too Good To Be True

When Dorsee Bernat joined Liberty HealthShare, she was enrolled in the provisional program (now known as HealthTrac) for her high blood pressure. Working with one of Liberty's health coaches, she was able to set and achieve goals she never thought possible.

Read the rest of entry »

There Is An Answer

What if you could join a community that truly makes a difference?  Be inspired to make your healthcare dollars go further, with purpose. There is an answer.

Read the rest of entry »

Why are Medical Costs so High?

During 2012, the average health care spending per person in the United States was $8,895, which is among the highest rates of healthcare spending in the world. In general, the medical care available today is expensive because of all the training, research, administration, and technology involved in making the care possible. This can be further broken down into specific aspects of care and actions of patients and health care professionals that contribute to high overall medical costs in the United States. Here are a few:

Read the rest of entry »

Pre-Existing Conditions And Provisional Membership

Pre-existing conditions are medical conditions with symptoms, medication, or treatment in the past 36 months. Among the top three questions asked about Liberty HealthShare is this: 'How do you handle pre-existing conditions?

Read the rest of entry »

Liberty HealthShare: Too Good To Be True?

With the new Affordable Care Act (ACA) now passed into law and in full effect, people are wondering what options they have to pay for their medical costs. One approach that isn’t commonly talked about is healthcare sharing or medical cost sharing. It is acknowledged in the ACA, but many people do not know about it. Of those who have heard of medical cost sharing, many are confused as to what it really is and how it works. Let’s start by saying medical cost sharing it IS NOT insurance, it IS legal, and it has been around for quite some time in faith communities. In fact, it is a biblical approach to paying for unexpected and unaffordable healthcare costs. 

Read the rest of entry »