BARBERTON, OHIO, UNITED STATES, February 20, 2023 /EINPresswire.com/ -- A legitimate, in-depth financial and operational accreditation process for health cost sharing ministries benefits consumers - and government.

A health cost sharing ministry (HCSM) isn’t health insurance; instead, it’s an insurance alternative that enables people of faith to exercise their freedom as Americans to follow their religious beliefs and consciences as they see to their personal or family’s health cost support needs.

Christian Healthcare Ministries (CHM) achieved first-in-the-nation accreditation following a four-month review of its policies, procedures, and financial status by professionals of Demotech, a Columbus, Ohio, financial analysis and ratings firm.

“A comprehensive accreditation review that takes a deep dive into all aspects of a HCSM benefits consumers in that they can review the who, what, when, where, how, and why of an accreditation,” said J. Craig Brown, CHM president and CEO. “Legitimate HCSMs aren’t insurance, and aren’t regulated by government in the same way that insurance is. That means that a true, thorough accreditation process is reassuring to consumers and the government, which has an interest in seeing consumers protected.”

Since its founding in 1985, Demotech has principally provided financial stability ratings for property and insurance companies, title underwriters (which authorizes agents to sell title insurance) and other organizations engaging in financial risk. Demotech was the first company to have its rating process formally reviewed and accepted by the Federal National Mortgage Association (Fannie Mae), Federal Home Loan Mortgage Corporation (Freddie Mac), and the U.S. Department of Housing and Urban Development (HUD).

Demotech’s Faith-Based Sharing Review (FbSR™) is explained on the firm’s website: “Demotech developed its Faith-Based Sharing Review’ process to evaluate various components of individual health care sharing ministries, including their core qualifications, transparency of operations, ministry motivation, financial accountability, and protection of members, and provide an opinion as to the ministry’s capability to serve its members.”

CHM scored 95 of 100 possible points in Demotech’s 30-point accreditation review. The firm’s professionals spent months examining CHM, which included interviews with CHM leadership and employees.

Demotech conducted CHM’s accreditation review because, as a firm with an extensive background in insurance company financial stability ratings, Demotech could distinguish between CHM’s non-insurance, faith-based program and an insurance company’s practices, Brown said.

“Governments can – and probably should – be aware of the processes by which a HCSM can claim to be accredited,” Brown said. “What is the competency and experience of the staff conducting the review and how long did it take? What is the history of the accrediting organization? What were the standards used in determining accreditation? What record does an accrediting body have in conducting accrediting examinations? What was the extent of their review? If the answers to these questions are lacking, it identifies a problem.

“These questions and more are helpful to consumers and governments alike in knowing the degree to which a HCSM has devoted itself to doing the right thing, the right way. That’s why we at CHM purposely chose to undergo a tough, detailed accreditation review.”

CHM, America’s longest-serving HCSM, serves members in all 50 states and missionaries in a number of foreign countries.

ABOUT CHRISTIAN HEALTHCARE MINISTRIES

Christian Healthcare Ministries (CHM) is a budget-friendly, biblical, and compassionate healthcare solution through which Christians in all 50 states and around the world voluntarily share each other’s medical bills. We’re not health insurance; instead, we’re the first and longest-serving healthcare sharing ministry, having satisfied over $8 billion of our members’ medical bills. CHM members contribute fixed monthly financial gifts to assist members in paying their medical bills. No member is ever removed from membership, nor is their monthly gift payment increased because of an expensive health condition. No one is denied membership because of a medical condition.

The ministry, under the leadership of President and CEO J. Craig Brown II, is headquartered in Barberton, Ohio.

• Web: https://www.chministries.org
• Facebook: http://www.facebook.com/iheartchm
• YouTube: https://www.youtube.com/iheartchm
• LinkedIn: http://www.linkedin.com/company/iheartchm/

Katlyn Stryker
Christian Healthcare Ministries
editor@chministries.org
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