|December 2021||Maximixe your HSA e-Newsletter||Vol. 17, Issue 18|
Healthshare Comparison: Zion vs. MediShare
But by knowing your healthshare plan inside and out, it’s possible to not only lower your monthly payments, but also get healthier, strengthen your investments, and get a head start on retirement.
But both plans have become increasingly popular among our members, offering a long-awaited alternative to traditional health insurance.
In this edition of our monthly newsletter, we’re going to compare these two popular healthshare plans side-by-side.
Zion vs. MediShare: Points of Comparison
Comparing healthshare plans is not unlike comparing health insurance. You need to compare plans by the same critical criteria. For this comparison, we’re going to look at:
- Monthly Cost. With healthshare plans, this is usually referred to as a member ‘share’ or ‘contribution’.
- Annual Household Portion. This is the amount of a medical bill that must be paid by the member before the bill is eligible for cost sharing. (With Zion, this is known as the “Initial Unshared Amount”.
- Statement of Faith vs. No Statement of Faith. MediShare is designed specifically for members of the Christian Faith. Zion Health offers memberships to people regardless of religious affiliation.
- Additional Programs and Services. All healthshare companies offer a number of member services in addition to medical cost sharing. These can include 24/7 telemedicine, prescription drug discounts, and valuable health incentive programs.
Choosing Between Zion and MediShare: Where to Begin
The first thing that you need to consider is whether a health sharing plan is a good match for your needs.
Often offered by Health Care Sharing Ministries, or HSCMs, healthshare plans are an affordable way to protect yourself against emergency medical costs. These plans are a fraction of the cost of most insurance plans and can keep someone from paying for a lot of insurance coverage that they’ll never use.
But health sharing is not a perfect fit for all people. If you have significant or ongoing medical needs, or if you just use your coverage often, then it might be better to stick with traditional health insurance.
MediShare: Christian Health Insurance (That’s Not Really Insurance)
Medi-Share is perhaps the best medical cost sharing program for members of the Christian faith. Their member Statement of Faith is based on biblical teachings, meaning that your monthly contribution is going towards like-minded people of your spiritual community.
- A shared Christian community
- Members can lower their rates more by completing the health incentive program
- Does not accept members who do not identify with the Christian faith
Zion Health: Low Cost, Non-Religious Medical Cost Sharing
Zion Health allows members of all religions and beliefs. Their plans are becoming more popular because of their flexibility. Specifically, Zion’s health sharing programs can be set up to work with both HSAs and Direct Primary Care memberships.
Zion Health Pros:
- Zion is the only health sharing organization with an HSA-compatible plan option
- Zion also offers a membership specifically for Direct Primary Care (DPC) members
Zion Health Cons:
- Fewer program options than other HSCMs
Ready to Compare 2022 Health Share Plans?
Remember: Your Personal Benefits Manager is standing by for whatever change you need to make with your healthcare. If you are looking for a health insurance plan, Open Enrollment is still on, and there’s still time to get a new plan for 2022 or switch to something cheaper.
Or, if it’s a health sharing plan you’re after, we can handle that too.
When you’re ready to make changes, call your Personal Benefits Manager. Or, even better, use the link below to schedule a free, personal healthcare consultation around your schedule.
Click here to schedule an appointment, or call 800-913-0172 to get started.
To your health and wealth,
Wiley P. Long, III
President - HSA for America
The HSA for America Maximize Your HSA Newsletter is published monthly and emailed to subscribers at no charge. Subscribe now to stay on top of the critical information you need to know about health insurance, healthshare plans and managing your finances to achieve financial security.
- The age of the oldest active member in your family
- The number of members in the membership
- The membership option or tier you select
- Your member commitment portion (MCP)
- Your state of residence
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