Not perfect, but closer than most

Humans are risk averse. Hence, we like the idea of insuring--read: pooling risk--against the unknown and catastrophic. However, when we forget about the pool and use our insurance as a personal piggy bank, we tend to want more and more services covered. We want our regular check-ups, vaccinations, and health screenings to be paid for by the nameless, faceless members of the pool. Such a system will quickly lead to abuse when there are no limits. Do you think of your fellow employees when you have a catastrophic event? No.

Enter faith-based insurance, like Samaritan Ministries International. They provide coverage for their regular attendees. They protect the general pool by refusing to cover obese individuals and tobacco users, though some faith based groups will cover obese individuals if they work with a health coach. For complete basic, catastrophic, and car accident coverage, family premiums run about $4500/year. Any large health events are covered by funds each family is required to set aside every year, which they will then send, along with get-well cards, to the individual with the health event. Each member of the pool is made aware that they are in the pool together. Monthly newsletters keep everyone informed and connected.

This system isn't perfect. I would argue that the pool will be solvent longer if they assigned premiums more accurately based on individual risk rather than an arbitrary average. However, the pool does keep members connected and cognizant of the fact that their choices will affect the pool. People will still abuse it, but they will have to answer to people they know rather than some insurance agent whose name they didn't bother to write down.

More importantly, faith-based insurance members will be exempted from the new health insurance mandate. Given that the mandate will make most, if not all, policies prohibitively expensive, faith-based policies will be a great choice for many people. I feel a religion revival coming on.