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 medical cost sharing is on how Members help each other with their immediate needs.
Articles in this section
- 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?
- How can I be sure that the Medical Cost Sharing community concept really works?
- Are there monthly premiums?
- Is Medical Cost Sharing legal?
- What are the requirements for participating in Medical Cost Sharing?
- What about functional medicine for wellness?
- Can I choose my own doctors and hospitals without being penalized?