Faith-based insurance surging in popularity

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Heidi Goitia sat down with Tony Lehrman of the Lehrman Group to find out about "faith-based insurance." (Source: 3TV/CBS 5) Heidi Goitia sat down with Tony Lehrman of the Lehrman Group to find out about "faith-based insurance." (Source: 3TV/CBS 5)
(3TV/CBS 5) -

The cost of health insurance can really leave a mark in your bank account but there is a way to save a lot of money if you believe in a higher power.

It's called faith-based insurance and it's exactly what it sounds like, insurance based on your religious beliefs.

"You have to sign a statement saying, 'I believe in a higher power. I believe it's our responsibility to help our fellow man out," said Tony Lehrman of the Lehrman Group. "That's what these sharing plans are about. You're literally paying the health insurance claims for other people."

[SPECIAL SECTION: CBS 5 This Morning]

He sells this kind of insurance, which Lehrman says has been around for decades but is skyrocketing in popularity because so many people can't afford their affordable health care plans.

He says - depending on your situation - your premiums can be cut in half.

Lehrman has clients in Flagstaff who are paying a third of what they were paying before.

Faith-based insurance is available for all religions, and again, you have to sign a statement of beliefs. While you should believe what you're signing, but you don't have to.

"I tell my clients, 'You have to sign a statement and if you're lying about signing it, that's bad karma. You're telling a faith-based organization, 'Yes I believe in God' and if you're an atheist I don't know what it is but you don't want to lie,'" said Lehrman. 

He said they will want to know if you drink too much or if you smoke too much but, in reality, they take everybody.

"I mean, if you apply and answer the questions the way they want to hear it, they'll take you," said Lehrman.

These plans are monitored by the federal government and they're part of the PHCS (Private Health Care Systems) network so you have access to just about every doctor and hospital in the country, he said.

Lehrman continued to explain that these plans are common for people who no longer work for a company that supplies group insurance, so their most common customers are people between 45 and 64 years old.

He also said while these plans can be a great deal for some, they're not good for everyone. Especially for people who are at high risk for being hospitalized in the next two years.

Some of the plans offered under the faith-based umbrella limit those benefits. For more information, you should contact your health insurance provider or a local insurance broker.

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