Medi-Share insurance alternative

[Preacher Man]

Ok. So what is the difference?

It’s a medical cost sharing group. They are exempt from being required to share the costs of pre-existing conditions. That is how they keep their costs lower. Similar to the way actual health insurance coverage used to be, prior to the implementation of Obama Care.

And it’s faith based with certain personal behavior qualifiers. Like not using tobacco products etc.

[RiverRat1]

It’s a medical cost sharing group. They are exempt from being required to share the costs of pre-existing conditions. That is how they keep their costs lower. Similar to the way actual health insurance coverage used to be, prior to the implementation of Obama Care.

And it’s faith based with certain personal behavior qualifiers. Like not using tobacco products etc.

So it's all good from what I can tell.

I have no idea if something major happens but I can't see them just bailing. Not any more risk than any other insurance carrier saying somethings not covered.

[DaveC]

I have no first base experience, only a phone call with whoever is on the other end.

He claimed once you met your "Annual Household Portion" the rest was "shared" with other members. And cited a burn victim case where a 9 million dollar bill was negotiated down to 3 million via Medi-share reps and paid in full / shared in full- with the membership.

Of course he's their sales guy, but that's what he said anywho.

Buying down the "annual Household Portion" is where the out of pocket monthly goes up. it starts at 12k and goes down from there depending on how much you want to contribute (pay) towards the bucket.

https://www.medishare.com/pricing

Hopefully my plant's new employer won't pull any shenanigans, but if they do I'm just sniffing out options, starting with this one.

[TheHammer]

I used it for 2 years until I got on my wife’s insurance. Was great for me. I’m self employed and no way I was going to pay what they wanted for health insurance.

[RiverRat1]

I have no first base experience, only a phone call with whoever is on the other end.

He claimed once you met your "Annual Household Portion" the rest was "shared" with other members. And cited a burn victim case where a 9 million dollar bill was negotiated down to 3 million via Medi-share reps and paid in full / shared in full- with the membership.

Of course he's their sales guy, but that's what he said anywho.

Buying down the "annual Household Portion" is where the out of pocket monthly goes up. it starts at 12k and goes down from there depending on how much you want to contribute (pay) towards the bucket.

https://www.medishare.com/pricing

Hopefully my plant's new employer won't pull any shenanigans, but if they do I'm just sniffing out options, starting with this one.

This is correct. And if it didn't work I'd assume you could find people complaining on the internet.

But one doesn't need to meet the annual household portion for them to cover certain things. They cover lots of things I assumed they would not.

[chongo]

We've had it for 4 or 5 years. About 6 months after signing up my son had a staph infection and spent almost 10 days between two hospitals, an ambulance ride, MRI and IV antibiotics - bill was somewhere just a hair north of 100k. I paid 5k (Annual Household Premium) and the rest was negotiated/covered by medishare.

They don't cover Rx (use GoodRX to keeps those costs reasonable) and if you're in decent health and don't require much mental health (ADD/ADHD) it's a great solution. IMO, it's what health insurance should be and if the costs weren't so out of whack due to the current makeup of our insurance/healthcare system it would be a no brainer.

Our monthly premium is around $700 and with prescriptions we're usually around $850 a month. Much cheaper than a private plan (I'm self employed).

[150class]

Got off the phone with them and seems okay but curious to see more reviews.

As mentioned they have about 4 tiers that show out of pocket expense (12000, 9000, 6000, and 3000) (like a deductible but not like one at the same time) and then it dips into the community pool after that. We have Gold RX for a couple medications but as far as cost the 6000 plan is approximately 69% less (yearly) then work insurance.

Will do more research and read reviews but slightly leaning this way with our age and fitness level.

[W E H]

I have no first base experience, only a phone call with whoever is on the other end.

He claimed once you met your "Annual Household Portion" the rest was "shared" with other members. And cited a burn victim case where a 9 million dollar bill was negotiated down to 3 million via Medi-share reps and paid in full / shared in full- with the membership.

Of course he's their sales guy, but that's what he said anywho.

Buying down the "annual Household Portion" is where the out of pocket monthly goes up. it starts at 12k and goes down from there depending on how much you want to contribute (pay) towards the bucket.

https://www.medishare.com/pricing

Hopefully my plant's new employer won't pull any shenanigans, but if they do I'm just sniffing out options, starting with this one.

this isnt like the LLYOD'S of LONDON type cost sharing "insurance" is it? you would not pay say $8000 in annual family "premiums" and then if there is a major health issue of someone in the group, be asked to come up with more money?

[150class]

this isnt like the LLYOD'S of LONDON type cost sharing "insurance" is it? you would not pay say $8000 in annual family "premiums" and then if there is a major health issue of someone in the group, be asked to come up with more money?

From what I gathered your cost are a "app fee of 50$" a "Registration fee of 120$" and then your monthly fee of whatever. They have co pays, telehealth and Emergency room co pay. Supposedly they pull from a 50 million pool once you exceed your "deductible" which can be assumed a major accident of sorts occurred.

That does bring up a good point and question that I will ask of "What if all 50 million was used before years end/has that ever happen before?"

[gingib]

I used it for 2 years until I got on my wife’s insurance. Was great for me. I’m self employed and no way I was going to pay what they wanted for health insurance.

So my question would be: If its so good why jump on real insurance?

[Shane]

So my question would be: If its so good why jump on real insurance?

Maybe because his wife's employer covered a good bit of the premiums, they could be on the same plan with 1 deductible, and/or use the same HSA account?

[TheHammer]

So my question would be: If its so good why jump on real insurance?

Because it saved me $200 a month. My wife has hospital insurance and it can’t really be beat. Cost me $40 on hers vs $200 on Medishare. Medishare was still cheaper than getting my own insurance.

[SL1]

I use Christian Healthcare Ministries, it's been around for 40 years and has been great for the members. Rates are very reasonable. Sure beats what I was paying for "affordable health care" which came out to $14,400 a year plus a 12000 deductible. So essentially it was catastrophic with a physical once a year. I'm 58, dont smoke and am not overweight or on any meds. If you can't qualify for the subsidies you are screwed on the affordable part. The whole thing was just a backdoor into the middle class's back pocket.

[jomw10]

As mentioned before, as long as you understand that is not insurance and it's difference you should be OK.
- Most colleges required insurance for kids, so if you are on medi-share the college may require you to buy insurance for your kid.
- It doesn't have to cover pre-existing conditions (read the fine print)
- As is not considered insurance, legal "protection" don't exist. Not a lot of recourse if they denied a claim or goes bankrupt.
- No tax advantage for using Health Savings Accounts.

Of course this may be your best choice if the price is right and you have no pre-existing conditions

[quackadikt]

I’m getting ready to have to find my own insurance. I was really wanting this type of plan to work, but the pre-existing conditions clause is a deal breaker. My wife has an extremely mild pre-existing heart condition, but it’s documented.


Sent from my iPhone using Tapatalk