What We Are Facing
It is no secret that our national economy is struggling, and everyone is enduring significantly higher prices for virtually all goods and services. Healthcare costs have not been immune to the excessive inflation levels everyone has been experiencing – nearly 16% since the start of 2021, according to the Consumer Price Index. Nationally, health spending has grown rapidly as well, passing $4.3 trillion in 2021 or nearly $13,000 per person. This has led to companies nationwide raising their prices in order to offset the effects of inflation, including the medical providers that provide quality healthcare services to our Members.
Our Plan of Action
Effective for the September Share Notice period, the Board of Directors of Solidarity is adjusting the Monthly Contribution Amount for all Members. This adjustment will go directly towards the Monthly Share Amount and sharing of Members’ medical expenses, and brings Solidarity in line with others in the healthcare sharing sector – while still leading the industry in price and service value. Solidarity offers Members access to comprehensive healthcare, including:
- Prescription Drug Cost Sharing
- Unlimited Mental Health Visits
- Wellness Visits
- Preventative Care
- Lab Testing
- Access to Alternative Medicine
- Life-Affirming Fertility Care
- No Network Restrictions
- …and many other offerings that allow our Members to truly direct their own healthcare, and get the care that works for them.
For some context, Solidarity has been able to keep the same Monthly Contribution since November 2021. Furthermore, we compared Solidarity’s new Monthly Contribution set out below for a family of 4 (oldest adult aged 40) to the average among the top five industry leaders in the health sharing field, as well as to the average cost of traditional healthcare nationwide. Overall, we found that our Monthly Contribution is still very competitive, especially when you take into account that our program is the one of the most comprehensive healthcare sharing options available. The yearly cost for a family of four on Solidarity is 6.1% more affordable than the average cost for healthcare sharing, and 60.2% more affordable than the average cost of health insurance.
Solidarity HealthShare remains one of the most cost effective and reliable healthcare options for Catholics and all people who share our religious beliefs, offering great value in terms of comprehensive, quality care.
Solidarity will continue to provide Members with access to the highest quality healthcare services – healthcare that does not force them to abandon their deeply held beliefs, and at costs that are far below traditional healthcare costs. In 2022 alone, our Members saved more than $50 million off of billed charges out of $75 million in Member submitted medical expenses, and that is a testament to how strong our community is when we come together and share each other’s burdens in solidarity.
We greatly appreciate your Membership and support, and we look forward to continuing to serve you in the years ahead.