What are the disadvantages of Medi-Share?

Answered by Jeremy Urbaniak

There are several disadvantages of Medi-Share that individuals should be aware of before enrolling in the program. It is important to note that Medi-Share is not an insurance program, which means there is no legal protection for unpaid claims, coverage denials, or bankruptcy. This lack of legal protection can be a significant disadvantage for individuals who rely on their healthcare coverage.

Another disadvantage of Medi-Share is that it imposes restrictions based on lifestyle and pre-existing conditions. Medi-Share members are required to adhere to certain lifestyle choices, such as abstaining from tobacco and alcohol use, and may be denied coverage if they do not meet these requirements. Additionally, pre-existing conditions may not be covered or may come with limitations and waiting periods, which can be problematic for individuals with ongoing health issues.

In some cases, individuals may also be required to make additional monthly payments in addition to their regular Medi-Share contributions. These additional payments, known as Annual Household Portion (AHP), are required to be paid directly to other Medi-Share members who have eligible medical needs. This can increase the financial burden on individuals who are already struggling to afford their healthcare costs.

Unlike traditional health insurance plans, Medi-Share does not allow for Health Savings Account (HSA) contributions or reimbursement plans. HSAs can provide individuals with significant tax advantages and flexibility in managing their healthcare expenses, so the inability to contribute to an HSA can be a disadvantage for those enrolled in Medi-Share.

The disadvantages of Medi-Share include the lack of legal protection for unpaid claims, coverage denials, or bankruptcy, restrictions based on lifestyle and pre-existing conditions, the requirement for additional monthly payments, and the inability to make HSA contributions or utilize reimbursement plans. It is important for individuals to carefully consider these drawbacks before deciding to enroll in Medi-Share.