In medical cost sharing, the process differs significantly from insurance practices in this regard, to our Members’ advantage. Health Insurance deductibles are cumulative over the course of a plan year. Co-insurance is the portion of the medical expense owed by the patient. These insurance measures can amount to thousands of dollars in out-of-pocket costs to insurance policyholders annually. Conversely, Medical Cost Sharing Members select an IUA (Initial Unshareable Amount) when they join the community. An IUA is the financial portion ($500, $1500, or $5,000) that members pay their chosen medical providers prior to any amount becoming eligible for sharing. When Medical Cost Sharing Members incur an eligible medical expense that exceeds their per-event Initial Unshareable Amount (IUA), any eligible amount above the IUA is then considered for sharing, effectively reducing the Member’s burden to their selected IUA for any single medical incident.
Articles in this section
- Don't I have to have health insurance? Isn't there a penalty to pay if I don't?
- Can my adult children be enrolled in our family plan? Do they have to be a full-time college students?
- How are preventive/wellness medical visits and screening for me and my kids handled for sharing?
- After my Membership begins, can I change my IUA level?
- Is medical cost sharing just another name for health insurance?
- What’s the advantage of medical cost sharing?
- Are there any age restrictions on becoming a Member of the KNEW Health Community?
- You said you are working with an experienced Medical Cost Sharing Partner to manage that part of Member benefits: how do they fit into my KNEW Health Membership? Are they experienced?
- How can I be sure that the Medical Cost Sharing community concept really works?
- Are there monthly premiums?