Is Medi-Share A Good Idea?

What is the downside to Medi-Share?

Medi-Share Disadvantages You might not be eligible for expensive surgical procedures or care because Medi-Share is technically NOT insurance Many health care institutions and hospitals might not treat you, especially for the more costly procedures if Medi-Share is your only health insurance policy.

What is the catch with Medi-Share?

But here’s the big catch: Routine health screenings aren’t eligible for cost-sharing either. For instance, if your doctor recommends getting a colonoscopy because you’ve reached a certain age, you can’t submit the test for Medi-Share payment.

Are health care sharing ministries worth it?

healthcare sharing ministries provide a viable option for those who are looking for an alternative to shopping on the aca marketplace members of these ministries can encourage one another through personal notes of encouragement, which can foster a sense of community and family between each other.

Does Medi-Share cover pre-existing conditions?

Medi-Share does not exclude people for pre-existing conditions (similar to major medical plans), but they won’t pay for any pre-existing conditions for the first 36 months.

Are Medi-Share payments tax deductible?

The proposed rule concludes that fees for direct primary care, “shares” to a health care sharing ministry, payments for some public coverage programs (such as Medicare and Medicaid), and other arrangements qualify as deductible qualified medical expenses under Section 213(d).

How do I cancel my Medi-Share?

  1. Medi-Share Phone Number: 1-800-264-2562.
  2. Medi-Share Fax Number: 1-321-308-7779.
  3. Medi-Share Email: [email protected]
  4. Medi-Share Mailing Address: P.O. Box 120099 West Melbourne, FL 32912-0099.

How much is Medi-Share monthly?

It costs $50 to apply to Medi-Share, and there is a $120 one-time membership fee with the first monthly payment. Mira provides an affordable alternative to health insurance at just $45 per month.

Can I have an HSA with Medi-Share?

No HSAs – Medi-Share is not eligible for use with Health Savings Accounts (HSAs) Note: you can still keep your HSA and use it if you have one, you just can’t make tax-free contributions to it.

Is Medi-Share considered minimum essential coverage?

That coverage is later described as “minimum essential coverage” or MEC Although it’s unlikely you could make an argument that sharing ministries like Medi-Share and others are MEC, you could make an argument that as a member of a sharing ministry you are exempt from having to have MEC in the first place.

Is High Blood Pressure considered a preexisting condition?

Hypertension (high blood pressure) is an example of one such common pre-existing condition affecting more than 33 million adults under 65.

What is annual household portion in Medi-Share?

Deductibles – Called the “Annual Household Portion” or AHP, this is the amount you have to pay out of pocket on your own before your bills are eligible for sharing (or reimbursement).

What are examples of pre-existing conditions?

A medical illness or injury that you have before you start a new health care plan may be considered a “pre-existing condition.” Conditions like diabetes, COPD, cancer, and sleep apnea , may be examples of pre-existing health conditions. They tend to be chronic or long-term.

When did Medi-Share start?

Medi-Share is a healthcare sharing program where Christians share financial resources to pay for each other’s medical expenses. Since 1993 , over $875 million has been shared and discounted among Medi-Share members. It’s a proven biblical model of healthcare–Christians helping Christians.

Does Medi-Share count as insurance for taxes?

Unlike traditional health insurance, members of healthcare sharing ministries, such as Medi-Share, are exempt from the individual mandate penalty that has been imposed on those who can afford to purchase health insurance but opt out You can view the Christian Care Ministry’s Certificate of Exemption here.

What is a MEC plan?

Any insurance plan that meets the Affordable Care Act requirement for having health coverage.

Does Medi-Share cover pregnancy?

Medi-Share does not exclude people for pre-existing conditions (similar to major medical plans), but they won’t pay for any pre-existing conditions for the first 36 months. Very important! That means if you are already pregnant when applying for Medi-Share, that pregnancy will not be covered.

What is Jericho share health insurance?

The ministry formed in 2021 when House of Prayer and Life Inc., a half-century-old Christian congregation, assumed the name Jericho Share, according to Texas business filings. Health care sharing ministries are faith-based organizations whose members agree to share medical expenses.

Is it still mandatory to have health insurance in California?

Having health insurance isn’t just a good idea, if you live in California, it’s the law. In fact, 2020 marked the first year that Californians are required by state law to have health insurance.

Does California have a penalty for no health insurance?

According to the California Franchise Tax Board (FTB), the penalty for not having health insurance is the greater of either 2.5 % of the household annual income or a flat dollar amount of $750 per adult and $375 per child (these number will rise every year with inflation) in the household.

Does Medi-Share provide a 1095?

All people who receive Medi-Cal coverage that meets the requirement for MEC will receive a Form 1095-B.