Are you considering the Medi-Share health cost-sharing program? Make sure you know the risks.

What is Medi-Share?

Medi-Share is an often religion-oriented medical cost-sharing organization. They have gained popularity and are commonly used as an alternative to traditional health coverage. Individuals contribute a certain amount of money each month to cover each other's medical expenses.

While it's good to explore coverage options it's important that you read the fine print. Although this may seem like a less costly option, there are many risks involved that you will want to consider before opting for this arrangement.

What are the risks involved in Medi-Share?

  • Limited coverage: Medi-Share's coverage excludes certain medical conditions or treatments. Pre-existing conditions and preventive care such as health check-ups, vaccinations, and screenings may be excluded. This restriction could leave you vulnerable during serious health situations. In contrast, accredited Affordable Care Act (ACA) health plans have set coverage and specify what services and treatments are covered.
  • Not regulated: Medi-Share, unlike a traditional health coverage company, is not controlled by a state or federal governing body, which means the economic soundness of the company is not 100% guaranteed and you could be left uncovered. There are no guarantees of payment for medical costs or legally enforceable member rights.
  • Voluntary sharing: Members of Medi-Share must depend on the generosity of others to contribute to their medical expenses. If the pool of funds runs out, it could result in you having no reimbursement during a critical health emergency.
  • Religion: Medi-Share plans often require that their members follow certain religious beliefs and may exclude those who do not adhere. Those who come from different religious backgrounds or those who do not have any religious affiliation may not be considered for Medi-Share and will not be covered for their health needs.
  • Cost Risk: Members of Medi-Share often have to front their costs and hope it is reimbursed. However, there is no guarantee that they will get any of their money back.

What are the limitations?

Although Medi-Share may seem like a good alternative to traditional health coverage, it is imperative to also consider the limitations. You may not be covered for certain medical conditions or treatments, the financial stability of the company is not guaranteed, and you are relying on others to support your health expenses. Medi-Share organizations may also require that their members follow specific religious beliefs that may exclude them from being covered.

It is important to weigh in on both your financial situation and health care needs before joining a health cost-sharing ministry like Medi-Share. By choosing this option, you could be opening yourself up to a large financial risk.

Learn More

To make sure you are covered with dependable, affordable health coverage, enroll in a health plan that you can be sure will be there when you need it most. MyPriority® Individual and family plans include preventive care at no cost before the deductible, along with other essential benefits and chronic condition coverage before deductible.

Take our plan quiz to find out which plan is right for you. Or get a quote to compare all your low-cost plan options.