A 'medical cost-sharing' plan left this minister to pay most of his $160,000 bill
Instead of signing up for traditional health insurance, the Kings had joined what's called a "medical cost-sharing plan" with a company called Sedera, which describes its service as a "refreshing non-insurance approach to managing large and unexpected health care costs."
But the sharing plans offer fewer protections than insurance and come with provisos. The Kings said their plan did not fully cover preexisting conditions like Jeff's heart condition for the first two years of coverage — and he needed the surgery after 16 months.
In a statement a Sedera spokesperson said it's important that members understand the cost-sharing model and membership guidelines. "Sedera members read and agree to these prior to joining," the statement read.
[EXTERNAL LINK] - A 'medical cost-sharing' plan left this minister to pay most of his $160,000 bill
Instead of signing up for traditional health insurance, the Kings had joined what's called a "medical cost-sharing plan" with a company called Sedera, which describes its service as a "refreshing non-insurance approach to managing large and unexpected health care costs."
But the sharing plans offer fewer protections than insurance and come with provisos. The Kings said their plan did not fully cover preexisting conditions like Jeff's heart condition for the first two years of coverage — and he needed the surgery after 16 months.
In a statement a Sedera spokesperson said it's important that members understand the cost-sharing model and membership guidelines. "Sedera members read and agree to these prior to joining," the statement read.
[EXTERNAL LINK] - A 'medical cost-sharing' plan left this minister to pay most of his $160,000 bill
