Since launching the kNew Health Cooperative, we’ve received a lot of questions about how this new model will work.
So today we answer your most frequently asked questions about health cost sharing, including: who is and isn’t a good fit for the program, what types of medical expenses will be shared, the technology we’re using to execute this, what to expect in monthly fees, what happens if we don’t sign up 10,000 people before January…and boat-load more.
Hey, the motto of this new model is: transparency rules; so we’ll answer everything we possibly can for you based on what we know now.
Ready. Set. Go…
Q: What is a health cost-sharing cooperative and how does it compare to traditional insurance?
A: A health cost-sharing co-op is not health insurance, but the principles are similar.
You pay a monthly amount (called a “share”) to be a co-op member, but instead of that money going toward running an insurance company and paying your future bills (or not), it’s shared among the cooperative community as medical needs arise.
When you do submit a medical expense, it’s “shared” by the cooperative, similar to how a claim would be “reimbursed” in a traditional insurance company.
Within the traditional insurance model, it’s often the sickest people who receive the most money with little incentive to get better…while everyone absorbs those costs with high premiums.
In a health cost sharing cooperative, members are incentivized to create better health for themselves and their community, because that results in lower costs for everyone.
In other words: our health cost sharing model will incentivize wellness over sickness.
Q: Why would I choose cost sharing over traditional insurance?
A: Everyone has their own reasons for considering cost sharing, and it’s not a fit for everybody.
The awesome things about this model are:
- You choose your providers and care
- It’s super-affordable compared to commercial insurance
- It’s integrative-medicine-friendly
- It’s based on peer-to-peer support—health-minded people sharing the healthcare costs of other health-minded people.
- And, instead of padding the pockets of big insurance companies for coverage you barely use, your money is going to a health-minded cooperative that incentivizes community and self-health creation
Q: Who would and would not be a good fit for health cost sharing in the kNew Health Cooperative?
A: As we seek to launch this new venture, we are looking for health-conscious people in good health who care about their bodies, minds and communities.
This program will focus on incentivizing health creation to keep costs low. So you need to be interested in creating and maintaining your health and the health of your community to join.
Once we get established and as our membership bucket allows, we will welcome those with certain pre-existing conditions; provided they are willing to work with a Health Coach to improve and even eradicate their condition.
Q: How much will this cost me per month?
A: Since we’ve just launched this initiative and don’t know how many people will sign up by January 1, 2019 (we need at least 10,000 people, and the final membership number will affect rates), we can’t give you a hard number.
However, in the interest of full transparency, we can tell you we plan to base membership fees on those of Liberty Healthshare*, whose the rates have stayed the same for at least the last 5 years.
- Single Individual: Under 30: $149, 30-65: $199, 65+: $224
- Couple: Under 30: $199, 30-65: $299, 65+: $349
- Family: Under 30: $399, 30-65: $449, 65+: $499
Those rates all cover up to $1,000,000 per incident.
And we need 10,000 people minimum signed up before January 1 to launch this cooperative.
That’s how many it will take to provide enough sharing for everyone based on these estimated rates.
Q: Is my kNew Health membership eligible for sharing?
Not right away.
However, as our numbers grow we plan to create sub-sharing groups with people who wish to share expenses like this.
If you choose to share with a sub-group in the future, keep in mind your overall fees will be higher than if you remained in the more general cost-sharing group. So you’ll have more choices as the program grows.
Q: What types of medical expenses will be eligible for sharing?
A: While we don’t have all the details of sharable expenses worked out yet, what we can tell you is the cooperative will not offer unlimited sharing of integrative medical expenses.
That would cost well over $1000-$2000 a month per person, which doesn’t support our model to provide affordable, accessible cost-sharing.
What we are creating, is an affordable alternative to health insurance that reduces your wallet share, so you have more cash to spend on your chosen integrative functional medicine services.
We will share functional medicine services like annual physicals and you will have a health coach available should a health issue arise…along with sharing for emergencies and the unexpected, of course.
And, as mentioned in the previous question, in the future we plan to open up sub-groups for more extensive sharing options.
Q: How exactly will this “sharing” model work…how do I know my money is being used as it should be?
A: In our current health insurance system, most of us pay exorbitant monthly fees for insurance coverage with no real guarantee all our medical expenses will be fully—or even partially—covered.
And make no mistake, health insurance companies are incentivized to delay, complicate and deny your claims as much as possible to maximize their profits.
It’s no wonder the insurance industry is one of the most mistrusted in all of America.
The kNew Health Cooperative will be run on an entirely different system using the ultimate transparent platform: the blockchain.
If you’re not up on blockchain technology, don’t worry—it’s not as complicated as it may seem and you don’t have to be a tech-person to get where we’re coming from.
Put very simply, the blockchain is a decentralized (meaning spread out), peer-to-peer-driven technology which relies on transparency, community use and user’s satisfaction to exist and thrive.
In other words: it’s the technology of community, driven by the people…not an exclusive group of investors or executives.
In the context of the kNew Health Cooperative, this revolutionary blockchain platform will allow us to:
- Use an algorithm which ensures you’re never overcharged—this lets us accurately and fairly calculate your monthly share based on your individual health and the health of the co-op community
- Take only 10% of your monthly share to operate the co-op—while the other 90% goes into the cooperative share bucket (traditional insurance companies only use about 50-60% of premiums to pay claims, without disclosing where the rest of your money goes[note]https://www.iii.org/article/background-on-insurance-fraud[/note])
- Store all cooperative financial transactions publicly on the blockchain—so you know precisely where your money is going at all times
While this all may sound too good to be true, it’s not. This is the future of technology and healthcare folks, and if Bitcoin can do it so can we.
Q: How can I get signed up, how much do I have to put down and what do I get?
A: Visit: knewhealthnow.com and enter your email address to get on the list as a founding member of kNew Health Cooperative.
Once you’ve entered your email, you can reserve your spot as a founding member for $99.
In return you’ll receive:
- 2 tickets to the kNew Vision Tour (coming to a town near you this summer)
- A must-read eBook: “The Top Ten Ways to Save Money on Healthcare”
- Access to my talk from the Evolution of Medicine Summit: “Evolution or Revolution? The Rationale for Healthcare from Scratch”
Plus, your $99 secures your spot as a “Founding Member” of this co-op.
Which means you’ll get a big say in how the co-op set up, run, which types of services are covered and how funds are distributed.
Q: Why won’t this be launched until January 1, 2019? I want to get in now…
A: Because that’s when the old law mandating Americans to purchase health insurance under the ACA expires—which is what’s made it possible for us to do this now.
Plus, we need these months to get at least 10,000 people signed up as founding members to make this happen.
Again, 10,000 is the number of members it will take to have enough in the share bucket to support everyone’s sharable medical needs.
You can save a spot as a founding member right now at: knewhealthnow.com
Q: What happens if you don’t get 10,000 people signed up? Do I get my $99 back?
A: No—but you won’t lose out either.
Your $99 will go toward funding the kNew Vision Tour (which you’ll receive 2 tickets for with your $99 sign up fee) which we’re doing specifically to get thousands of people signed up for the co-op.
It will also go toward other promotional campaigns to raise awareness about integrative functional medicine, the healing power of community and the value of this co-op model.
Consider it a small $99 investment in a brand new model of healthcare coverage, functional medicine awareness and your very viable chance to become a founding member.
Plus, we have no intention of not reaching our 10,000-person goal. We’re staking an entire 40-city tour on it, so we’re in this with you all the way.
Q: I’m still not 100% sure, where can I learn more?
A: We’ve set up a number of resources to help you learn more and get excited about this health cost sharing movement.
- knewhealthnow.com—the official site of the kNew Health Cooperative. Here, you can watch the official launch announcement from the Forum, get information on the co-op and get signed up as a founding member
- A blog series on What is Health Cost Sharing on the kNew Health blog
- Health Cost Sharing 101 covers all the cost sharing basics, plus more of what to expect from kNew Health Cooperative
- What is Health Cost Sharing? The History takes you through the fascinating history of health cost sharing, how Presidents Obama and Trump helped fuel its rapid growth and why it’s been such a successful model
- And a free eBook available at knewhealthnow.com: enter your email address for free access to: “The Top 10 Ways to Save on Healthcare” and get a good feel for the strategy and core values of the co-op
We’ve covered a lot today, and we’ll cover even more on this in future content.
Until then, check out the resources above, visit knewhealthnow.com to save your spot as a founding member and be sure to share this with as many like-minded friends as possible.
We cannot do this without you, and if this new, transparent, peer-to-peer driven health co-op concept speaks to you…we hope you’ll join us in evolutionizing American healthcare.
To read commonly asked questions or to contact us, click here
-The kNew Health Team