No. An insurance “premium” is a fee in exchange for an insurance company's legal obligation to cover your medical costs under certain specified conditions. In contrast, with KNEW's healthcare sharing model, most of your "monthly share" amount goes directly to the sharing pool, ready for members’ healthcare needs.
Instead of insurance, think of it like pooled medical savings, where there's a common fund to share your qualified medical needs. In over three decades of healthcare sharing, millions of people have used this model successfully to protect their health and finances.