If you’re considering making the switch from traditional health insurance to medical cost sharing(HealthShare), you likely have a bunch of questions and concerns…
…the main ones being:
#1: how much is this going to cost me? AND
#2: how much can I save?
To help answer these questions (and more), we’re thrilled to bring you an inspiring new series of articles, based on real-life stories of cost-savings from Knew Health Community members.
Our First Story Features Knew Health Community Member, Holly Ladd
Holly recently joined Knew Health Community during our limited, initial friends-and-family enrollment period.
A health insurance patron for years, Holly discovered medical cost sharing during her training as a Health Coach:
“Unfortunately, I couldn’t become a member of other cost sharing programs due to an autoimmune condition I was diagnosed with in 2010—which is now fully reversed and has been asymptomatic for years. So, I had to keep paying into the ACA plans.”
Like many health-minded people, Holly was paying an arm and a leg for a high-deductible insurance plan she rarely (if ever) used; while simultaneously paying out-of-pocket for the health and wellness services she believes in, such as organic food, naturopathy, functional medicine labs, etc.
Per Holly: “My current insurance policy covers nothing! And my deductible is so high! It doesn’t even make sense to use it. Now I am thrilled to have KNEW as an option, as they realized my autoimmune is no longer a relevant medical cost and accepted me as a member.”
But, Holly’s Desire to Invest in Medical Cost Sharing Went Beyond Just the Cost-Savings…
Like many of you, Holly was tired of paying into a broken system and wanted to be part of a new solution. In her own words:
“I wanted to join Knew Health Community because I want to be part of fixing the broken health care system. I want this to go big and show the country that we can make health care affordable to those who choose a healthy lifestyle.”
But, abandoning the standard safety-net of mainstream health insurance for medical cost-sharing is a big decision.
So, we asked Holly what her main questions and concerns were before switching to Knew Health Community:
“Once we confirmed I was eligible for membership, the only concern I had was whether an unexpected serious, expensive diagnosis would be shareable. Now that I know it will be, I have no concerns.”
After researching how medical cost sharing works and doing her due diligence, Holly was confident that her needs would be met.
Here’s a Break-down of Holly’s Cost Savings Since Switching to Knew Health Community
Holly had been paying $536/month for her health insurance, or $6432 annually, and had just received word that her premium was about to increase to $644/month, or $7728 annually.
Again, this was for health insurance she rarely used…which just didn’t make financial sense.
After using our Savings Calculator, she discovered that her Knew Health Community membership would be only $245/month, or $2940 annually.
This is already an annual savings: $4788, or $399 per month.
But it gets even better!
Currently, Holly has a $7900 annual-deductible through her insurance company.
With Knew Health Community, she chose a $1500 individual unshared amount (IUA)—the amount members pay out-of-pocket per incident before sharing additional medical expenses with the community. As an individual, Holly would only have to pay her IUA up to three times, that’s $4500, in a membership year (for 3 separate illnesses or injuries) before her IUA would drop to $0 for further events.
What’s Holly going to do with All of that Savings?
Can you believe that? Imagine what you could do with an extra ~$400 per month?
For most of us, it would be life-changing.
Holly tells us she plans to re-invest the majority of that money into her own health and wellness, and some to fund her love of travel:
“I want to have more control over where I spend my healthcare dollars and have more disposable income every month for alternative treatments like acupuncture, annual lab work, seeing my naturopath, float tanks, massage, supplements – and to offset the cost of buying organic food.”
Holly’s Best Advice for Individuals and Families Considering Medical Cost Sharing:
Holly’s biggest advice for those considering whether to make-the-switch is to really think about how often you use the conventional healthcare system and what your current policy provides.
“I realized last year that my ACA bronze policy did not even cover basic lab work, all it covered was seeing a doctor and female wellness exams.
“If you are healthy and take steps in your life to stay healthy—like eating clean, exercising, dealing with stress, sleeping 7-9 hours a night and having supportive relationships—there is no need to pay what you are paying for an ACA policy.
“By switching to KNEW you can save money every month that can go toward all of your health supportive costs. Plus, your “just in case” medical needs will be covered.”
Could Medical Cost Sharing Save You as Much as Holly?
If you’re reading this post, you probably share a lot in common with Holly
You take care of yourself. You invest proactively in preventative care. You’re disillusioned with the current healthcare and insurance system. And you’re excited to be a pioneer in creating the alternative, which will change the world, while providing you with incredible cost-savings benefits.
If you’re ready to join Holly, and many others like her and you, in this revolution then here are your next steps:
#1: Check out our Savings Calculator to find out how much you could save through medical cost sharing.
#3: Open enrollment is now closed until the new year, but be sure to get on our email list for first-dibs on our next enrollment period in February of 2019.
Until then… thanks for joining us in this movement!
We look forward to transforming healthcare with you,
-The Knew Health Team