And here are what our total outgoing medical costs (the monthly “share” amount + our bill payments) have been with Medishare the past three years:
Compare that to what the our previous strategy of finagling would have cost for the same time period (at least!):
So, was the switch a good idea? Absolutely. By switching to Medishare, we saved almost $17,000 in real dollars over the past three years, plus we cut our risk exposure in half.
Is it exactly the same thing as typical medical insurance? No, it’s not. But we were comfortable with the coverage exceptions (the biggest being limited sharing on pre-existing conditions). We had a full pregnancy + birth, an emergency oral surgery with an overnight stay in a major children’s hospital, and an ACL tear; and everything was as covered as you would expect with a high deductible insurance. We have one minor pre-existing condition that we paid for out of pocket, and that was no problem at all.
Full disclosure: I recently moved to a new job with wonderful family health benefits heavily subsidized by my employer and so we made the difficult decision to leave Medishare. For the past three years, however, as a relatively healthy young family prone to new babies and a few random accidents, Medishare was absolutely the best choice for us. They were everything they promised they would be. As long as you are comfortable and familiar with their (member-voted) terms, I’ll always recommend it as an option absolutely worth consideration.