A Low-Cost Alternative to Health Insurance [Medi-Share Review]

How to invest $200k

First things first thinking what is medishare? Medi-Share is neither insurance nor a charity as you will come to know. Although it can be a remarkable substitute for a few but for some it might not be a good alternative. It however it is not included with respect to the Obamacare mandate. In absence of this mandate although the substitute will continue to be a good alternative for family as well as for you.

What is Medi-Share?

Medi-share can be explained as a not for profit organisation that is into pooling or in simpler words sharing of medical expenses scheme for Christians. It is a platform wherein people share each other’s medical outlays and health expenditures. Primarily everyone come up with their share just like any premium into a big pot and the ones that are having any sort of medical expenses can make use of that money to pay their outstanding bills.

A helpful platform, is it?

Medi-Share is actually a platform for healthcare sharing where Christians divide with the help of the financial resources to take care of medical expenses and bills. Right from 1993 a rough estimation of about $875 million raised as well as shared among the Medi-Share members. It is also considered as a heavenly model of healthcare where Christians help other Christians in need. So here we will discuss everything about Medi-Share and the medi share review.

How Medi-Share Works?

This is how does medishare work

1) Yearly household share

AHP also known as Annual Household Pay which can be referred to a yearly amount that is deductible. The scale of your share decides what amount you will be paying which will be coming from your pocket for sharing medical expenses right before your health share comes into the picture. It will be entirely dependent upon you so as how much would you like to contribute for both monthly share as well as the AHP.

Therefore there are no chances of medishare complaints so far In a family of 4 members I chose about $7000 which is slightly above what one could bear. It is advisable to choose a lower AHP & monthly share amount just so that your family do not have to suffer with your decision of helping others. Hence going for a lower monthly share and comparatively lower AHP is a good option to go with.

2) Provider charges

As with any classic insurance you will need to pay a mere amount of $35 for a doctor visit and $130 in case of emergency situations. Typical patient care such as yearly physicals, vision and dental care are not taken care by the Medi-Share, hence you need to be ready for the expenditure that may incur through the year. That is the reason why the medishare review is always good.

3) Doctor visits

Whenever you are in need of medical care you will have to give your Medi-Care membership card and pay up the provider charges as the provider will for sure bill Medi-Share. The medical bills will be then discounted and handled letter to which the doctor will charge for the amount you need to pay up. Often there are some neutral medi share reviews on some sites. After you pay up the amount that meets the annual AHP the qualifying medical charges will be accepted for sharing.

4) Health incentive

Those families in need will take nearly +20% of the monthly share amount by the certified health incentive. For it to be accepted the Medi-share members of the householf should complete certain criteria with respect to health parameters that involves the BMI and blood pressure along the waist and weight measurement. We were talking about this medi care and health incentive which proved to be helpful for losing some with over the years. On the other hand it will pour the money back in the pocket including the improvisation that was seen in ones health.

Benefits of the Medi-Share

1) Fly the market thoroughly

Right before Obamacare came into the picture, I used to pay up +$290 monthly & for a year around  +$9800 which was deductible for the healthcare insurance policy I took. Being self employed and making a fair enough income as and when the law was passed the monthly premiums saw a rise of nearly +$1000 monthly. Primarily I completely disagree with the Obamacare for the adherent execution, discriminating enforcement and scheming with the insurance firms which is a wasteful roll-out. With respect to the American health insurance being a little unclear you will be much more comfortable with a mechanism that is dabbling with real time as Medi-Share will permit you to leave it all behind completely. As expressing the glee of being able to clock out of the system and in the absence of paying any late or extra charges for soaring premiums for the rest of their life.

2) Join anytime you like

Well you read that right you can join at any point of time. You can apply for Medi-Share as and when you like it through the year. With Obamacare you are very much enforced to join and that too in their enrollment period. The joining cycle starts right from 1st of November to 15th December. That is exactly about 45-46 days. It is highly possible that you might be coming across this blog during their enrollment period wherein you can opt out for Medishare as and when you like. As there is no need of exceptional exceptions to go ahead.

3) Its comparatively cheaper

In coma[prison with the other health insurance that falls under Obamacare, Medi-Share is a significant money saver. As my own family has a switch in big savings. Medi-share is completely an affordfable alternative in contrast with the health insurance as they are always permitted to discriminate.

Drawbacks of Medi-Share

1) Absence of Health Savings Account (HSA) benefactions

As we all are aware that the Medi-Share is not an insurance, you can’t get an approval for Health Savings Account (HSA) which will need you to have a health insurance plan that is sky soaring. This can be considered as a big clunker for me. One can really leverage the yearly deduction for tax right from the contributions to our HSA. At present Medi-Share. At present Medi-Share is working together with Congress on the amendment that my permit HSAs which could be taken into consideration with the donation or sharing programs. I usually get in touch with the representative for support. This is something to be not at all worried about specially if you have well enough funds in HSA. Still you can make use of it for proposing medical expenses. Here we think of using ours for the expenses which are not covered by the specialized Medi-Share scheme.

2) Absence of Tax Deductions

There is no doubt that the health insurance premiums are subject to taxes. As also Medi-Share are not tax deductible. That is the very reason for it being still deductible specially to a certain limit based on a certain proportion of the calculated gross income. Do you have a business with only a handful of employees? This is something that allows you to subtract the expenses on reimbursing for the Medi-Share monthly contribution. This I did by myself by configuring the QSEHRA. You can Google it if you wish to know more.

3) Medical Providers May not Want to Bill Medi-Share

In the past few years there have been a handful anecdotal incidents of hospitals and doctors that refuse to bill Medi-Share & in its place questioning the patient to pay from his pocket. In some places this may come from the fact that PHCS network that Medi-Share makes use of is not the globally recognised PHCS provider network.

Bottom Line

With Medishare there are high chances to make available a few health care cost protections, however in my case the Medicare membership has been a great deal. With Medishare there is no risk of paying up any costs with relevance to the expenditure with tragic and unacceptable healthcare. The kidney transplant usually costs somewhere between $300,00 and $385,000 to which there is an addition of +$2800 per month for medical expenditures.