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What is Knew Health?
Knew Health is not health insurance. We are an inclusive monthly Membership that our Members trust. Our Members are empowered to take charge of their health with proactive Advantages and savings to invest as they see fit. Whether alternative medicine, organic foods, and other wellness resources.
Knew Health Members are also part of the Medical Cost Sharing Community which helps in the event of medical emergencies and illnesses. Our Community shares their monthly payments back with Members to help pay their medical bills.
Our Members are like-minded and empowered, but never alone.
What are the Advantages of becoming a Knew Health Member?
Glad you asked! Members receive:
- personalized, free Health Coaching
- 35% discount on thousands of supplements
- free and discounted lab work
- 24/7 Telemedicine
- 2nd opinion services
- medical bill negotiation services
- and more!
Knew Health has chosen Sedera as the Medical Cost Sharing Community for our members. They are one of the most successful and experienced facilitators of medical cost sharing. In partnering with Sedera, our Members benefit from their experience and we are able to offer individuals and families an ethically-aligned Community that will negotiate bills on their behalf and share the financial burden of unexpected, costly medical events.
Sedera has shared over $32 million to date and averages a 52% cost savings through bill negotiations.
Is it required to have health insurance?
No, it is not required to have health insurance under the Affordable Care Act (ACA).
There are some states in the US which have state-level mandates and associated tax penalties for not having qualified insurance coverage. We encourage each Member to understand their state’s requirements, any associated penalties, and make the decision that is best for them.
How much does Knew Health cost?
Membership options start as low as $142/month and will depend on your age, type of Membership (Individual, Family, etc.), as well your Initial Unshareable Amount (IUA).
An IUA is the amount that you will be financially responsible for when you have a Shareable Need and the Medical Cost Sharing Community will share the rest of the costs back with you.
How do I sign up?
Becoming a Member of Knew Health is simple and entirely online. Within just a few minutes, you’ll be a part of our flexible, month-to-month Community. No long-term contracts here!
What is an IUA?
When you sign up with Knew Health, you’ll select an Initial Unshareable Amount (IUA). These amounts range from $500 to $5000. If you have a Medical Need that can be shared with our Community, this is the amount that you’ll be responsible for and the remainder of the costs will be shared back with you so you can pay your bills in full.
Initial Unshareable Amounts are per Need, so it is important to note that you could be responsible for more than one IUA in a year. But we also know that bad years can happen, so no Member will pay more than 3 IUAs in a given year. So if you are planning your yearly finances a good rule of thumb is to multiple your IUA x3 and have this amount set aside for rainy days.
What is a Shareable Need?
When Members incur unexpected medical expenses there is a medical Need. A Need is one or more medical expenses caused by a single, new accident, illness, or pregnancy. Some examples are a broken bone or cancer.
Members send proof of their medical expenses through our online portal. These costs are evaluated according to the Medical Cost Sharing Guidelines, negotiated down to ensure the lowest cost, and then amounts that exceed the Initial Unshareable Amount are shared back from the Community to the Member so they can pay their bills.
Medical Cost Sharing
What is Medical Cost Sharing?
Medical Cost Sharing is an arrangement whereby Members agree to share medical expenses through an act of voluntary giving.
It is NOT insurance. It is not licensed or registered by any insurance board or department. It does not assess applicants’ health risks, because the Community is not assuming financial liability for any other Member’s risk.
Unlike insurance, the focus of the Medical Cost Sharing membership is on how our Members help one another with their immediate needs, so they are never alone when it matters most.
How does Medical Cost Sharing work?
When Members join, they will select their monthly contribution amount along with an Initial Unshareable Amount ($500, $1000, $1500, $2500, or $5000). Their monthly contribution goes towards sharing with the Community and an IUA is the amount that the Member will be responsible for in the event of an unexpected illness or injury.
For example: A Member chooses the $500 Initial Unshareable Amount (IUA) when they sign up and they confirm their monthly contribution associated with that IUA. Each month, this Member shares their contribution with the Community. Then the Member has an accident and breaks their leg. Once they tally their medical bills, their costs are $5,500. Here’s what happens next:
Step 1: As these costs were due to an unexpected injury, this Member submits these costs online through the online Medical Cost Sharing Portal.
Step 2: The costs will first go through bill negotiation, reducing the total bill from $5,500 to $2,500 (we average over 53% reduction costs!).
Step 3: The Member is then responsible to pay their chosen IUA ($500, in this example)
Step 4: The Member receives a check for $2,000 from the Community to cover the remaining medical costs from this Need (a medical expense is referred to as a medical Need) and pays their bills.
The medical Need is resolved with the individual Member paying a total of $500 vs the original $5,500 estimated cost.
Is Medical Cost Sharing a new approach?
No, Medical Cost Sharing traces its origins back many years to the Amish and Mennonite communities, and began expanding in the 1980s with the advent of large, Christian-based health care sharing ministries.
The concept has since evolved to include fintech-enabled, ethically-aligned Medical Cost Sharing communities, but the purpose remains the same: for the Community to help relieve the burden of the individual in their time of need.
Why do your Members choose Medical Cost Sharing?
Knew Health keeps your monthly costs low and our Community gives you peace of mind against unexpected medical bills. And, even better, you’re totally in charge of your healthcare. You have the freedom to choose your providers and your preferred style of care. And we help you save by providing discounts on supplements, labs, wellness resources, and more.
What expenses are eligible for sharing?
New illnesses, new injuries, immunizations for children under 18. Maternity costs including prenatal, delivery, postnatal are covered after 1 year of membership, and standard screenings like mammograms and colonoscopies*.
There are no yearly or lifetime maximums/caps on the financial amount that can be shared back with you. That’s truly peace of mind, especially for costly diagnoses, like cancer.
* Some limitations may apply, contact us with any questions.
What costs are not eligible for sharing?
Here’s a good way to think about it: expected costs are not covered. These include general wellness, preventive care, maintenance medication.
Knew Health Members use the money they save each month to invest in their preventive health and wellness.
Are there any caps or limitations on Medical Cost Sharing?
No. There are no lifetime maximums, monthly caps, or other limitations on how much funding can be shared with a Member for eligible medical Needs.
We know that new injuries or diagnoses, like cancer, are daunting, but with Knew Health, the financial aspect will be one less thing to worry about because our Community will continue to share with you as you need care.
Can I see the fine print?
Of course! Click here to view our Medical Cost Sharing administrator’s Guidelines. The Guidelines outline eligible medical Needs, as well as providing education on how Medical Cost Sharing works.
Are pre-existing conditions eligible for sharing?
Some pre existing health conditions will have limitations on sharing while others can become partially eligible for sharing after the first year on an incremental scale.
* If you would like to discuss your personal pre-existing condition sharing options, please contact our Member Services Team.
Are maternity costs eligible for sharing?
Maternity expenses incurred after 12 months of Knew Health Membership are generally shareable. This includes expenses for prenatal care, delivery, postnatal care, and miscarriage. So a good rule of thumb is that maternity costs can be shared if an expected delivery date is at least one year since you joined Knew Health.
What about costs that occur abroad?
As long as the medical Need meets the Guidelines for sharing, these costs can be shared, no matter where they happen.