Health Insurance vs Health Care Crowdfunding: The Top Pick for Personal Trainers

After housing and transportation, health insurance is one of our highest expenses. Even if you buy coverage through the health insurance marketplace, which offers insurance plans at reduced rates as part of the Affordable Care Act (ACA), you can still pay almost $700 per month for a policy depending on the state where you live. (1)

Certainly, health insurance is something you don’t want to go without. Even if you’re healthy, one major medical incident can put you in debt for years to come. Yet, traditional coverage options aren’t always fair for personal trainers.

The Problem with Traditional Health Insurance for Fitness Professionals

As a leader in the fitness industry, you eat right and exercise. But who consumes the most health care in the U.S.? People who live unhealthy lifestyles, following poor diets with limited physical activity. 

They wake up, eat unhealthy foods throughout the day, work, come home, sit in front of the television, and repeat. This lifestyle is connected to long-term health issues. These are issues that our country has faced over 50 years, and the trend is continuing to get worse. If these are the characteristics of people that consume the most health care, what does that mean for healthier individuals? 

The current health insurance system is supposed to be there for you in case of a medical emergency. However, the price of premiums continues to increase along with the usage of insurance. Someone who is generally unhealthy and has health issues directly related to their lifestyle will generally use insurance more than a healthier person. When you buy into an insurance plan, you are subsidizing the most frequent users of medical plans from your insurance company. You pay more for your health insurance plan because others use theirs a lot.

This may be good for them but not so good for you. But insurance companies don’t care. They don’t look at individuals when setting rates. They only see risk. As a result, you end up paying thousands of dollars a year, essentially covering expenses created by the highest-risk individuals in your plan. 

Unfortunately, because of the structure of health insurance combined with oversight for consumer protections, this model of coverage is pretty much the standard for this country.

What About Alternative Health Insurance Plans?

Alternative health plans are adjustments you can make to typical coverage models. In some cases, they might involve purchasing a more limited healthcare option, only buying the coverage you want or need. 

1. Short Term Health Insurance: Almost every major insurance company offers a short-term coverage option. This type of plan may be helpful if you only need insurance for a short period, as most have a six-month cap. Maybe you plan to get married soon and your new spouse has insurance through their employer. This type of plan gives you coverage until you can be added to their insurance policy.

2. High Deductible Health Plan: Another way to save money is to purchase a high deductible plan. Since you carry a larger portion of the risk, your premiums are lower. Many of these plans also enable you to contribute to a health savings account. This is an account you can use to pay for medical expenses not covered by your plan.

3. University Health Plans: If you’re taking college courses, you may qualify for coverage through the university. This type of play may require that you go to student health services for care. So, you’ll want to check this upfront. But if that’s okay with you, it may be a more affordable health insurance option.

4. Health Share Plan: In this type of health insurance, all members share in the cost. This helps split health care expenses up over a group instead of placing them on an individual. Although, it also means that you may be paying for someone else’s care. Keep that in mind if you choose this plan.

Both traditional and alternative health plan options have pros and cons. Some people prefer traditional coverage because that’s what they know. They understand how this type of plan works. They may also have a healthcare provider who they already know takes the plan.

One con of traditional coverage is that it often has limits. Some limits are financial, in that they will only pay a certain amount. You pay the rest via copays and deductibles. Other limits apply to specific health tests or treatments. Preventive care is often a covered expense. Other types of care are dictated by the policy’s terms.

If you prefer treatments that fall under the umbrella of Traditional Chinese Medicine, they aren’t typically covered in a traditional plan. This includes chiropractic care and massage therapy, both of which can be valuable muscle recovery tools. An alternative health plan can provide greater flexibility. You may be able to pursue alternative treatment or alternative therapy options if you wish.

Plus, these plans can often be purchased at a reduced cost. This provides a more affordable coverage option. They also typically have less stringent application requirements. They may not ask about a pre-existing condition, for instance. Or they may not limit when you can apply, such as by having an open enrollment period.

One con of alternative plans is that they may not cover as much as traditional health insurance. To keep costs low, they may not pay for certain medical care expenses. Or they might cover primary care services but not alternative care. This puts those care-related costs back on you. 

The insurance model can be bleak for people who take care of their health. And for many trainers, the only alternative they see to insurance is no insurance at all.

Do Trainers Even Need Health Insurance?

Technically, personal trainers are not required to carry health insurance. Instead, insurance requirements generally involve protecting you from liability. Disability and life insurance are other policies worth investing in.

That said, keep in mind that one major medical expense can cause a lot of financial damage. If you are living paycheck to paycheck, this debt can follow you for a long time.

Crowdfunding Your Health Care

A major alternative to consider is crowdfunding. CrowdHealth is a company that offers this service. It is not insurance. Instead, it is a new way to utilize health care services and pay medical bills through crowdfunding sources. 

With CrowdHealth, you pay a low monthly membership. In return, you get health care services such as unlimited telemedicine, access to any doctor without network restrictions, and bill negotiation. You also gain access to the Crowd to pay for any large or unexpected medical bills. And the Crowd is built of members who, like you, take their health very seriously. The most common “big” bills are for injuries such as shoulder or knee tears rather than long-term events like heart disease.

As an ISSA partner, CrowdHealth helps personal trainers take control of their health. ISSA members get a discounted rate of $99/month for their first three months, followed by the regular rate of $175/month.

How to Find the Right Health Care Coverage for You

In the end, there is no one-size-fits-all health care program that is right for everyone. It’s more about finding a health plan that fits your budget, needs, and goals.

If you are low-income, obtaining coverage through your local human services may make the most sense. This includes Medicare and Medicaid Services. If you make too much to qualify for these programs, an ACA plan (a.k.a. marketplace plan) might be best. Or you might simply prefer the structure of traditional health insurance. 

But if not, alternative options do exist. Do your research to see how the one you want works. Know what it says regarding the type of care you can pursue. Consider each benefit it provides and if it has enough coverage for you.

Purchasing the right health care plan is important both personally and professionally. Although most fitness professionals get into this line of work because they have a passion for helping others reach their goals, personal training is still a business. 

If you want to know how to make your business a greater success, you can do so with ISSA’s Health Coach Certification Program. You’ll learn how to help clients create meaningful lifestyle changes and advance the future of fitness through health and wellness.

References

1. Fontinelle, A. (2022, March 2). How much does health insurance cost? Investopedia. Retrieved November 17, 2022, from https://www.investopedia.com/how-much-does-health-insurance-cost-4774184