No. Insurance arrangements are a contract whereby one party agrees to be legally responsible for and accept another party’s risk of loss in exchange for a payment - a premium. Medical cost sharing is an arrangement whereby Members agree to share one-another’s medical expenses through an act of voluntary giving. KNEW Health and its partners are not licensed or registered by any insurance board or department since we are not practicing the business of insurance. We do not assess applicants’ health risks, because neither KNEW Health nor our Members are assuming financial liability for any other Member’s risk. Unlike insurance, the focus of health cost-sharing is on how Members help each other with their immediate needs.
Articles in this section
- Is there any time limitation on sharing a medical Need?
- Are mental health needs shareable?
- Are prescription costs considered a shareable need?
- Are my monthly shares a pre-tax deduction like health insurance premiums?
- Is surrogacy a shareable need?
- Can there be multiple needs during one pregnancy?
- What if I have a medical need that is not shareable?
- Are maternity needs that occur prior to membership or in the first 12 months of member shareable with the community?
- How are maternity needs shared?
- Don't I have to have health insurance? Isn't there a penalty to pay if I don't?