How Impact Health Sharing Works: A Comprehensive Guide

In today's world, healthcare costs are skyrocketing, leaving many individuals and families struggling to make ends meet. Impact Health Sharing is a non-profit, non-insurance alternative that offers a unique solution to the high cost of health insurance. Through a community-based approach, Impact Health Sharing members share and pay each other's medical bills, providing a more affordable and accessible way to cover healthcare expenses.

How Impact Health Sharing Works

When you become a member of Impact Health Sharing, you'll first activate your Impact Share account. This account is used to manage all sharing activities. Once a month, members deposit a specified amount into their account, known as their monthly share. Share dollars are then matched and allocated to another member who has an eligible medical bill that needs to be paid.

Sharing Medical Bills

Once your monthly share amount has been matched to a member, Impact will notify you as to whom you have been matched with and how much of your funds they'll receive. This process is called publishing. Once notified, funds are transferred from your share account into their share account. When the member has received the full amount needed to pay that medical bill, it is then sent electronically to the medical provider and paid in full.

Primary Responsibility Amount (PRA)

The Primary Responsibility Amount (PRA) is the annual amount that every member household is responsible for paying before any of their eligible medical bills can be published to the members for sharing. Impact offers four PRA options to choose from, allowing members to select the option that best fits their budget and needs.

Co-share

The co-share is the percentage of an eligible medical bill paid by the member after the PRA has been met. As an Impact member, once your PRA has been met, you pay 10% of all eligible medical bills. The remaining 90% is published for sharing to the Impact membership. However, the total co-share amount, which you are responsible for, is limited to five thousand dollars annually per household.

Distributed or Decentralized Reserving

In order to process and pay medical bills quickly, Impact Health Sharing implements a practice called distributed or decentralized reserving. Impact is not insurance and does not collect and hold medical reserves in a centralized bank account. Instead, the monthly share amount is set at a level to build a small balance or reserve in each member's individual share account. These distributed reserves enable Impact Health Sharing to better manage the fluctuation of medical usage and payments.

Impact Health Sharing: A Community-Driven Solution

Impact Health Sharing is more than just a way to pay medical bills; it's a community of individuals and families who are committed to supporting one another. By sharing the burden of healthcare costs, Impact members are helping to make healthcare more affordable and accessible for everyone.

If you're looking for a more affordable and community-based alternative to traditional health insurance, Impact Health Sharing may be the right solution for you. Visit their website or call them today to learn more.