This Faith and Finance podcast is underwritten in part by Christian Healthcare Ministries. Is health insurance eating up your budget for 2026? If you're looking for ways to better steward your finances, consider this. Christian Healthcare Ministries is a health insurance alternative at half the cost. While insurance companies tell you when to join, what to pay, and where to go, CHM is different.
As a ministry, CHM allows you to share the burden of medical bills with other Christians. You can enroll, switch programs, or leave at any time. That's a world of difference. CHM has four flexible programs. You can pick any certified doctor, surgeon, or hospital that you want for eligible care.
Make the switch and take your paycheck back from health insurance this year. Join CHM today by visiting chministries.org slash faithfi. That's chministries.org slash faithfi. What do you do when the cost of staying healthy starts straining the family budget? Hi, I'm Rob West.
For many households, rising health care expenses have become one of the biggest financial pressures they face. But even when traditional coverage feels out of reach, you're not without options. Today, Lauren Guideck joins us to talk about medical cost sharing, how it works, and why more families are taking a closer look. Then it's on to your calls at 800-525-7000. This is Faith in Finance, biblical wisdom for your financial decisions.
Well, our guest today is our friend Lauren Guidek, Senior Director of External Affairs at Christian Healthcare Ministries, a longtime underwriter of this program. Lauren, great to have you back with us. Thank you for having me back, Rob. Lauren, what are you seeing regarding the rise in everyday expenses?
Well, we're seeing that, you know, families are still having to deal with household expenses going up. You know, groceries are more costly, utilities Everything just costs more than it used to.
So even with inflation kind of backing off a little bit, prices haven't come down. And a lot of households. just aren't able to stretch that income as far as they used to be able to. There's no doubt about it, and as bad as it is, health care seems to be in a category all by itself, doesn't it? Absolutely.
I mean, I could write a book on it. But, you know, employer-sponsored family health insurance is now going up to, they say, $27,000 a year. And so between the employer and the employee, it's very expensive. And then marketplace plans, in some cases, are even higher. You know, we've seen increases of 20% or more.
So, you know, it's all being driven by the behind the scenes cost of hospitals and medications and things of that nature.
Well, let's get to some solutions.
So, for someone saying, I just can't afford traditional health insurance, give us some of the options that might be available to them. Yeah, there's a few different things that people can do. If you've lost your insurance coverage from your employer, there's COBRA, which helps you keep your same insurance plan, but it's very, very expensive because you are responsible for the entire cost of that. No employer to help you with that. And then, you know, you could also go to healthcare.gov, which is the insurance marketplace.
That can also be very expensive if you don't qualify for a subsidy.
So, but your third option is a health cost sharing organization like Christian Healthcare Ministries. We're not insurance, but we have members from all over the country who come together to help share each other's medical costs. Yeah, and for someone that is new to this idea, what are the key differences people need to know?
Well, most people understand, you know, the insurance model, which is premiums, deductibles, networks, and that sort of thing. But with healthcare cost sharing, it's a community of believers who voluntarily come together, like I said, to help share each other's medical costs. And, you know, your listeners can have confidence in it because we've been doing it successfully for over 40 years.
So here at CHM, we talk about assurance instead of insurance, meaning that our members are supported not just financially, but spiritually as well. And that 40 years represents $13 billion in sharing. Isn't that right? Yes, that's correct. Incredible, 13 billion with a B.
So help us understand how that plays out in real life, Lauren, and what it typically costs. What should someone expect? Yeah, so when you go and you get treatment from your health care provider, you know, maybe you go to the emergency room, you broke your leg or something like that, what you would do is just get the treatment that you need and then you will work with your health care provider. They'll bill you directly. you would send the medical bills to us here at CHM.
And then we would help either share or reimburse those costs depending on the situation. And we have a few different programs to fit your budget.
So our best program is at $299 per month. Silver is our second one at $169. Bronze at $115. And we also have a program for seniors that is $119 a month.
So it's based on your household size, how many people are participating. And all of your dependent children can participate as one single unit.
So no family ever pays for more than three units. Yeah, that is great.
Well, so helpful, Lauren. We're grateful for our long-standing partnership.
So many of our listeners and even some of our team members have used CHM for a long time.
So thanks for being here today. Oh, my pleasure. That's Lauren Guidek with Christian Healthcare Ministries, an underwriter of this program. CHM offers you a way to lower your healthcare costs while staying aligned with your values. If you want to learn more, go to chministries.org/slash faithfy.
That's chministries.org/slash faithfi. We'll be right back. FaithFi is grateful for support from One Ascent. One Ascent believes that your values inspire why you invest and how they can inspire how you invest. OneAcent's goal is to provide solutions designed for every need and invest in businesses that bless the people and places God has made.
They want to help investors do well by doing good. To explore a new way of investing that aligns with your values. More information is available at onascent.com and by clicking Analyze My Investments. Is health insurance eating up your budget for 2026? If you're looking for ways to better steward your finances, consider this: Christian Healthcare Ministries is a health insurance alternative at half the cost.
As a ministry, CHM allows you to share the burden of medical bills with other believers while also saving you money. Join CHM today and ditch traditional health insurance by visiting chministries.org/slash faithfi. That's chministries.org slash faith fi. No. Taking your calls today here on Faith and Finance, 800-525-7000.
Let's go to Virginia, Linda. How can I help? Hi, thank you for taking my call. I really appreciate that. Yep, of course.
I am calling about, so I have a social security question. My husband died in 2004. That was, I turned 50 that year.
So. Um sixteen years later. When I turned the year I turned 66, I started drawing his Social Security.
Well, last year, I turned seventy one. And I went to the Social Security office to see possibly if my benefit would be higher now than his was. Because I've worked all these years. Yes. And the lady at Social Security office told me that no, there's about $100 difference.
but that his would always be more than mine. And I just find that hard to believe. I mean, he's been dead be 22 years in April. And I've been steady working all the time. How is that possible?
Yes. Well, perhaps she was looking at your own record and saying, based on what she was seeing, that in fact his would always be higher. But that wouldn't certainly be true for everyone because you are able to get the higher of the two, whichever it is. You can't get both. The way Social Security determines your benefit is based on what's called the high 35.
So it's your highest 35 years of earnings. And if he Earned more than you for his highest 35 years compared to your highest 35 years, even though he's been gone for quite a while, then his benefit is going to be higher. And therefore, it would be better for you to take the survivor benefit. But you have the option to choose either one. Uh a person qualifies for either their own benefit Or the survivor's benefit.
And so Social Security will typically, and you can do this on your own to verify this based on your, you know, go to SSA.gov and look at your MySSA, but you have your own work record benefit, and then there's a benefit based on your husband's high 35, his highest 35 years of earnings. And for any years he didn't work 35 years and pay into Social Security, he would get zeros for those years. And so that's going to pull it down. And then it's just really simply which one is larger. And if yours will never exceed his, then you'd be better off taking his.
But to your point, given how long he's been gone, it's confusing that why wouldn't yours be higher? And it would just come down to. You know, were his highest 35 higher than yours? Does that make sense? Yes, it does.
It that wasn't explained to me. I was like in disbelief when she said that because, like I said, I have worked all this time. And now that I'm seventy one, I know that if I drew my own benefit, then it would be increased by a s a percentage because I'd waited to to 70 to collect my own benefit.
So, I don't know. It was just really confusing to me. I left there kind of scratching my head and thinking, it's just not possible. Yes, of course. And that would be worth looking into because, you know, what's important to understand is you can't earn delayed credits on the spousal benefit, which is what you get while your spouse is still living, but you can get delayed credits on the survivor's benefit.
And so, you know, if you found that your own benefit became larger, typically Social Security would just automatically switch you. But, you know, it would be worth looking into because, given the delayed credits on your own benefit, because you've been on his survivor's benefit all these years, you know, that may tip it in your favor. And I wouldn't just take them at face value. I think it'd be worth making an appointment, going down there and looking at those two records side by side to see which one is, in fact, larger.
So I think you're on the right track here. You may find, Linda, that they're exactly right, and you're better off just to stay with what you've got, but it would be worth checking once again. Thanks for calling today. If I can help further, don't hesitate to reach out. 800-525-7000 is the number to call.
We've got some lines open. Patty, standing by to take your calls today. Anything financial, call right now. We've got room for you. Again, 800-525-7000.
Let's go to Sean in Oklahoma. Go right ahead. Yes, sir. I applied for Social Security disability the first of last year, which I haven't received it just yet. They're working on it.
I uh had a stroke last year And I've had her hip replacement back in two thousand and it just seems like I'm getting harder and harder to work. I'm self-employed, mechanic. And I just wondered, is it possible to work after you get Social Security disability, Or does it This I can't do it at all. Yeah, it's a great question.
So you can, but there are strict limits.
So, you know, if you're still working while your application is being reviewed, they look at something called substantial gainful activity. And for 2026, it's roughly $1,600 a month.
So if you consistently earn above that level, they may determine that you're not disabled under their rules.
Now, once you are approved, you're going to get something called the trial work period.
So that allows you to test your ability to work without losing benefits. And you get nine trial work months. And these can occur really within any 60-month rolling window. And during those months, you're going to receive your full disability benefit regardless of earnings. But after that, once that trial period ends, then Social Security is going to monitor it.
And if you go above that substantial gainful activity, then you could lose your benefits, although you could have them reinstated later if you find that you are unable to continue to work down the road. But that $1,600 a month is typically going to be that trigger. Does that make sense? Yeah.
Okay. Excellent.
Well, listen, all the best to you. I hope you get that approved quickly, and maybe that gives you at least a kind of a guideline to think about as you think about potential work opportunities to supplement what you're getting on the SSDI. Thanks for your call today. To Ohio, Christina, go ahead. Hi, thank you for taking my call.
So my situation is I've been a stay at home mom for a long time. I have my own business, and I have a couple hundred dollars that I would like to invest somewhere. And I want to you know, every once in a while, I need to you know, I want to be able to put money into it. But I don't know exactly where to start or where to put that money. Yeah, I love that.
And so let me ask you a couple of questions. Do you have a an emergency savings yet that's separate from this? We do.
Okay. And you've got somewhere between three and six months? That part we're still working on.
So, I think that should be your first goal.
Now, apart from that, did you say you're self-employed? Yes. Okay. And so you wouldn't have access to a company plan.
So I think a great next option for you, assuming you're thinking long term investments where you're not going to touch it for until you get to retirement, would be a Roth IRA. And you could open that at Charles Schwab and perhaps use their Schwab Intelligent portfolios, which is a real simple, low-cost way to invest because they're going to take all the guesswork out of it. They're going to use what are called index funds. Actually, they'll use ETFs, very low-cost, very broadly diversified. And then every time you add money to it, it would automatically be reinvested.
So let's fully fund that emergency fund, but then open a Roth IRA at the Schwab Intelligent Portfolios. And I think that'll get you going in the right direction. Thanks for your call, Christina. Back with your questions on any financial topic after this. Stay with us.
Imagine having biblical financial wisdom delivered to your inbox every week, helping you integrate your faith and financial decisions for the glory of God. At FaithFi.com, you can join a community of over 70,000 people who are already receiving our weekly wisdom email, filled with articles, videos, podcasts, and exclusive offers on resources that will deepen your understanding of biblical stewardship. Start your journey today by creating your FaithFi account at faithfi.com. Just click sign up. Uh Faith in Finance is grateful for support from Sound Mind Investing.
If you have money in an investment account, you know sometimes the stock market can seem like a roller coaster. But it's possible to enjoy both profit and peace of mind as a do-it-yourself investor, no matter what's happening in the market. A short video webinar about that is available at soundmindinvesting.org. Financial Wisdom for Living Well, SoundMindInvesting.org. You know, here on this program each day, we want to help you see money as a tool to accomplish God's purposes, recognizing money is a good gift.
We should use it to enjoy and provide. We also need to understand that the use of money is highly spiritual. There's a connection between how we handle money and our hearts. Remember, Jesus said, Where your treasure is, there your heart will be also. You know, when he called out the widow and celebrated her giving out of her poverty, versus the Pharisees that were giving far more, that he really scolded.
You know, I think what we were seeing there is that the way we handle money has a way of illuminating what we truly treasure. And that means that our spending tells a story. It reflects our values. And the question is: what story is it telling? You know, does the way I'm handling money reflect what I want to be most important to me?
And if not, what changes do I need to make?
Well, each day on this program, we want to help you understand the counsel of scripture as it relates to managing God's money, but also in doing so, help you answer those very practical questions that you have going on in your financial life.
So, if there's something you're wrestling with, call right now 800-525-7000. The calls are coming in, but we've still got a few lines open: 800-525-7,000. Let's go out to Texas. DJ, how can I help? I'm on Social Security.
I'm retired, 62 years old. I'll be 63 this year. And I get $1,200 a month. and Social Security benefits And I basically don't have any bills. I've paid off my property, and I've got a vehicle that's paid off.
And I have a few cows that have calves every year, so you know, I just usually get about four or five thousand max. I don't usually make any more than that.
So I know I'm under the Social Security threshold as far as having to pay taxes on anything. But I'm wondering, am I exempt, being that I'm so far my income is so low, am I exempt from even filing IRS taxes? You're really not, unfortunately. I mean, in terms of the Social Security itself. Um, you know, you obviously, as we look at that formula, they use something called combined income.
So it's your adjusted gross income plus non-taxable interest plus half of your social security benefits.
So if you're receiving $1,200 a month, $14,000 a year, and $5,000 in cattle income, half of the Social Security, I mean, the combination of half your Social Security plus your $5,000 a year, you know, you're well below, even as a single filer, the standard deduction. The challenge is the self-employment income because the key rule here is that if you earn $400 or more in net self-employment income, the IRS requires you to file a tax return because of the self-employment tax, which funds Social Security and Medicare.
So even though $5,000 is low, it's well above that $400 threshold.
So you'd file a Schedule C and then you'd calculate the self-employment tax on Schedule SE.
Now, if you could claim it to be a hobby, that would be different. If it's a business conducted for a profit, that's where you would likely need to go ahead and file because you may have that self-employment tax, probably around $700 that you could owe as a part of being self-employed. I've actually lost money the last three or four years. We've had a really hard time with our weather and everything else. I've actually lost money the last three or four years.
And like I said, I don't ever make any more than that. And the only reason that I have the cattle basically is to keep my exemption. uh land exemption. you know, if it's not going to benefit me, I don't know. Uh But anyway, I need to know what, you know, what my options are.
Okay, so if you lose money every year, that actually changes quite a bit because there's no profit, so there's no self-employment tax. That only applies when the net profit is $400 or more. And so if your expenses feed, you know, and the vet and fencing and equipment, you put all that together and your net income is zero or even negative, then there would be no self-employment.
So do you need to file? It depends. You may not. If your only income is Social Security, the cattle activity produces a loss, you have no other taxable income, then some people still file to document the business loss and it kind of keeps the records clean with the IRS. But again, the IRS may question an activity that loses money year after year.
And if it's done mainly to maintain an agricultural exemption, then they could consider it a hobby. But I think at the end of the day, you don't have any taxes. Is owed. You don't technically have to file if you don't owe anything unless you just kind of want to keep track of this, keep it clean before the IRS, and eventually even accrue some of these losses that you could use for future profitable years.
Well, I'm like I said, I've literally the last three to five years, I have lost a tremendous amount of money, over $100,000.
So I'm big time in the hole. And I just wondered what I keep paying a CPA every year to file. And I'm like, do I even have to do that anymore? Because I'm retired and I've got all my bills paid. I've got a little nest egg, not much, but I've got a little nest egg.
And uh Uh but I'm having to pay the CPA every year and I'm like I shouldn't even have to pay that if my my income's so low. Yeah.
Well, if you have no taxable income, the loss really doesn't help. And so, if your only income is Social Security, that's not taxable at the level you've got with no other income. And the cattle losses have been significant. Normally, those losses offset wages or business income or capital gains. They can't offset non-taxable Social Security income.
So, I think essentially, large losses sometimes create a net operating loss that can be carried forward. But if you've got no, you know, little or no taxable income expected, the likelihood of those losses later is very small. And another issue is that consistent losses for multiple years can trigger IRS questions about, again, whether it's a business or a hobby. And so, I think, you know, really the filing only makes sense when you have other taxable income. If you want the CPA to help maintain records of the farm operations.
Or you need the carry forward. But in your situation, I don't really even see a need to file at all and pay a CPA who's really not providing any benefit. Yeah, okay.
Well, that's what I needed to hear because I wasn't sure exactly what my options were. Bob, I appreciate you. I'm praying for you. Absolutely. Well, I appreciate you, my friend, and I'll take those prayers.
Lord, bless you. Thanks for being on the program. If we can do anything to serve you in the future, don't hesitate to reach out.
Well, folks, thanks for being along with us today. Thank you for your calls, and your emails, and your texts. Here's what I hope: that you come away from today, realizing that if we're not careful, The way we handle money can subtly come in and capture our hearts. We can't let that happen. God is our ultimate treasure.
Money, though, is a powerful tool to be used for God's glory, for kingdom advancement, for our enjoyment, for provision. Let's make sure we keep it in its proper place. The only way we do that is when we stay rooted in God's Word. We'll help you do that each day as we come together in this program. But let's make sure we stay encouraged with one another to focus back on God ultimately being our treasure.
Big thanks to my team today: Patty, Dev, and Taylor, and everybody here at Faith Phi. We'll see you next time. Bye-bye. Faith in Finance is provided by FaithFy and listeners like you.
