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.
Since Medi-Share is not insurance,
it doesn't counteract the HSA or HRA eligibility
. Employers, therefore, can use this hybrid strategy to help their employees with healthcare expenses in a manageable and affordable way.
Mr. Ramsey has truth be told examined Christian medical services sharing services, and Medi-Share explicitly, on his site. He at that point brings up effectively that
Christian medical coverage choices are not protection and don't confront similar guidelines as insurance agencies
.
Medical cost sharing programs like Medishare or Golden Rule are not considered medical insurance under the Affordable Care Act, although they do provide an exemption from the requirement to have medical insurance. Since they are not medical insurance,
your contributions are not deductible
.
So, Is Medi-Share Legit? Here's our conclusion:
Medi-Share isn't a scam
. It's totally legal and there's a strong membership base to support it and similar programs. But it's likely not the most affordable health care option for most people.
Medi-Share does not cover the following:
Routine and preventive care
: this includes physicals, immunizations, vaccines, mammograms, lab studies, and colonoscopies.
Tax deduction – Under traditional health insurance, monthly premiums are tax-deductible. Medi-Share's monthly sharing contributions are
not deductible
.
- Medi-Share Phone Number: 1-800-264-2562.
- Medi-Share Fax Number: 1-321-308-7779.
- Medi-Share Email:
[email protected]
- Medi-Share Mailing Address: P.O. Box 120099 West Melbourne, FL 32912-0099.
Does Dave Ramsey recommend life insurance?
Dave recommends term life insurance
because it's affordable. You can get 10–12 times your income in your payout, and you can choose a length of term to cover those years of your life where your loved ones are dependent on that income.
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.
Medi-Share is
a faith-based cost-sharing program designed for Christians who want to meet one another's medical costs
. It's not insurance, but it may be one way to help qualified members keep their medical costs in check.
The program is part of a not-for-profit organization, Christian Care Ministry, based in Melbourne, Florida. The ministry reports
over 400,000
members have joined Medishare and more than $2.6 billion in medical expenses have been shared and discounted. Medishare is not health insurance.
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
.
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.
Mayo cuts ties with health care sharing ministries | Post Bulletin. Jul 26, 2020 — “While health ministries represent themselves as an insurance alternative, Mayo Clinic in a statement said
it only accepts licensed and accredited Medi-Share
, for instance, says members “do not pay for abortions, drug
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