Health Insurance – NO Personal Responsibility
Pay a Premium every month to a third party Insurance Company who accepts the financial risk for your health.
Health Sharing – Personal Responsibility
Each member contributes an assigned amount each month and those contributions are shared, to meet member medical expense NEEDS in full!
IUA – Initial Unshared Amount
The financial portion ($500 or $1000 U.S. dollars) that members are required to pay prior to any amount being eligible for sharing. After the IUA has been satisfied a qualified NEED, becomes eligible for sharing consideration.
Monthly Contribution Amount
Members freely choose to assist other members with their medical expenses by contributing a predetermined amount each month; called a “share.”
Defining a “NEED”
How it Works
Expenses related to the same medical condition, including those for separate incidents, (e.g. separate treatments or episodes of symptoms) will be shared as one need and accumulate towards the total need amount. When12 consecutive months have passed without any symptoms, medication, or other treatment for the condition that originally created the need, or related subsequent conditions, and the condition recurs, it will be treated as a new need.
Members that experience multiple needs within their 12-month membership year are required to pay the first three IUAs at the selected amount ($500 or $1000). If there is a fourth need during the same membership year, no IUA would apply. The fourth need, and any subsequent need(s), would be eligible for immediate sharing; subject to any stated restrictions or limitations in the Guidelines.
For households with multiple members (2 or more), a maximum of five IUAs apply per 12-month membership year. Beginning with the sixth need during the same membership year, medical expenses would be eligible for immediate sharing; subject to any restrictions.
PLEASE NOTE: No one person within a multiple household will be required to share more than three IUAs in a given 12 month membership year.