The Less Expensive Medicare Supplement Alternative: Medi-Share 65+

Are skyrocketing Medicare supplement premiums straining your finances? 

With rising healthcare costs, seniors are feeling the pinch—and Medicare supplement insurance premiums are no exception. Evidently, Medigap premiums have been increasing by 5% to 8% per year, which is outpacing inflation and putting a strain on household budgets, especially for those living on fixed incomes.

But there’s good news: Medicare beneficiaries now have an affordable alternative to traditional Medigap plans—the Medi-Share 65+ health sharing plan. This health-sharing plan offers a more cost-effective solution without sacrificing coverage.

In this post, we’ll explore why additional protection is essential for Medicare recipients, how the Medi-Share 65+ plan works, and how it stacks up against popular Medigap options. We will also discuss the pros and cons to help you determine if this plan is right for you.

Why Medicare Alone Isn’t Enough

Original Medicare (Parts A and B) is a great safety net for seniors leaving the workforce.

However, it doesn’t pay for everything. Even with Medicare, you potentially face massive out-of-pocket costs in the form of deductibles and coinsurance.

For example, under Medicare Part A (hospital insurance), you face a $1,632 out of pocket deductible as of 2024 before Medicare kicks in to help pay your bills.

And that’s per qualifying event, not per year. You could potentially have to pay multiple Part A deductibles in any given year.

With Part B (physicians fees, lab fees, and durable medical equipment), the current $240 annual deductible is manageable. But the real risk comes in the form of your 20% coinsurance portion.

If you have a major medical event, like cancer surgery, you could face tens of thousands of dollars or more in out-of-pocket costs in the form of Part B coinsurance.

Both Medigap plans and the Medi-Share 65+ health sharing plan exist to help you cover your out-of-pocket costs under Original Medicare – while still allowing you the freedom to choose your own doctor.

The Medi-Share 65+ health sharing plan, however, is typically available at a fraction of the cost of the more comprehensive Medigap Plans G, F, N, and C plans, especially in higher-cost-of-living areas.

And it delivers comparable protection power against the high cost of medical care.

This post will discuss what Medi-Share 65+ is, how it works, its advantages and disadvantages, and how it compares with Medigap Plan G, the most comprehensive competing plan available to new members.

If you like what you see, request a free quote, or if you want more personalized analysis and recommendation, schedule an appointment to speak with a MediGap Advisors Personal Benefits Manager.

What is Health Sharing?

Health sharing is a non-profit, money-saving alternative to for-profit traditional insurance approaches.

Instead of going through a for-profit insurance company, Medi-Share 65+ members are part of a non-profit, voluntary association of like-minded individuals who agree to band together to help shoulder the medical expenses of the group.

Health sharing serves a similar function to insurance. However, it’s not regulated the same way as insurance, and payouts are structured differently.

Medicare Deductibles and Co-pays with Medi-Share 65+

With Medi-Share 65+, you are responsible for the first $500 in medical expenses per plan year per household covered under Medicare Parts A and B that are approved but not paid.

The plan shares 100% of all other Part A and B costs.

That’s it.

With this in mind, Medi-Share 65+ is very similar to Medigap Plan G. Under Medigap Plan G, you are responsible for your Part B deductible, which is $240 as of 2024.

However, with Medigap plans, that deductible is calculated per individual, not per household: Once one spouse on Medi-Share 65+ has $500 in expenses in a given year, the other spouse’s expenses for the year are completely covered.

As with all health plans, though, there are certain exceptions and exclusions. We’ll address them in this blog post, below.

The Medi-Share Statement of Faith

Like many other health sharing organizations, Medi-Share 65+ is a faith-based organization.

In this case, it’s a non-denominational Christian association. Members are expected to live according to Biblical principles, maintain a healthy lifestyle abstaining from the abuse of alcohol or illegal drugs, and affirm the organization’s Statement of Faith.

This involves acknowledging the divinity of Christ and the nature of the Trinity.

Members are also expected to actively support a fellowship of believers, avoid tobacco use, abstain from sex outside of Christian marriage, and attest to not having engaged in substance abuse, including prescription medications or alcohol, for at least twelve months before joining.

How Much Can Medi-Share 65+ Save?

Medi-Share 65+ offers substantial monthly savings compared to traditional Medigap Plan G, making it an appealing choice for budget-conscious seniors.

In 2024, the average Medigap Plan G premium is approximately $137 to $148 per month. However, in some areas, premiums can skyrocket to $361 or more​. This variation is largely dependent on your location, age, and provider.

By contrast, Medi-Share 65+ provides a much more affordable option:

A key advantage of Medi-Share 65+ is its pricing guarantee: enrollees under 75 are locked into their rates with no increases until their 75th birthday, offering stability and long-term savings​.

So, if you’re currently paying a high Medigap Plan G premium, comparing your current rates to Medi-Share 65+ could reveal significant savings. 

For example, if you’re paying the national average of $148 per month for Medigap, switching to Medi-Share 65+ could save you nearly $600 a year—a substantial reduction in healthcare costs.

Telehealth Benefits for 24/7 Healthcare Access

Medi-Share 65+ understands the importance of providing fast, convenient healthcare access for seniors.

As a member, you have 24/7 telehealth access to board-certified physicians throughout the year, with no copay required. 

This benefit ensures you can consult with healthcare professionals quickly, whether it’s for minor health issues such as colds, flu, sinus infections, or earaches. The best part? You won’t need to worry about additional costs or arranging transportation for these common health concerns.

This service makes it easy to address medical needs from the comfort of your home, providing peace of mind when you need it most.

Pre-Existing Conditions

Typically, health sharing plans like Medi-Share impose a waiting period before they will share costs related to pre-existing conditions.

However, If you enroll in Medi-Share 65+ during your initial Medicare eligibility period, those waiting periods are waived.

They are also waived if you enroll during the Medicare Fall Enrollment Period, which runs from October 15th through December 7th each year.

That means that even if you have pre-existing conditions, your eligible medical costs under Medicare Part A and Part B in excess of $500 per year per household are 100% shareable. 

You pay nothing additional out of pocket.

You just pay your monthly sharing contribution amount required for membership.

For all other enrollments, Medi-Share will begin sharing your costs for treatment of pre-existing conditions incurred after you have been a contributing member in good standing for 6 months. 

Medi-Share 65+ and Prescription Drugs

Neither Medi-Share 65+ nor its Medigap competitors include prescription drug coverage. If you want to stay in Original Medicare, plus either plan, you should consider purchasing a standalone Medicare Part D prescription drug plan.

Alternatively, you can buy a Medicare Advantage plan that includes prescription drug coverage.

More details on this option are listed in the table below.

Other Medi-Share 65+ Discount Programs

Medi-Share, with its network of over 400,000 members, uses its size to help you save big on healthcare services.

It’s not just about prescription discounts either! They’ve negotiated significant savings on a variety of services, including dental and vision care.

As a Medi-Share 65+ member, you’ll also get a Select Savings Card, which offers discounts on essentials like diabetes care supplies, hearing aids, and even Lasik surgery. 

Whether you’re picking up your medications or scheduling a vision exam, you’re likely to see lower prices thanks to Medi-Share’s collective bargaining power. It’s a simple way to stretch your healthcare dollars further.

Get a Free Medicare Supplement Quote

How Does Medi-Share 65+ Compare to Other Programs?

As a Medicare beneficiary, you have three primary options to shield yourself from Medicare’s uncovered expenses. Let’s break down the key differences:

Medi-Share 65+

Medigap Plan G

Medicare Advantage

Medi-Share 65+ Exclusions

Due to its nature as a Christian health sharing ministry, The Medi-Share 65+ cost sharing plan has the following exclusions:

Medi-Share 65+ Advantages and Disadvantages

Pros:

Cons:

Next Steps

If you’re considering Medi-Share 65+ or have questions about how it might fit your healthcare needs, you have options:

Navigating healthcare can be complex, but you don’t have to go it alone. Our experienced personal benefits consultants are here to simplify the process, ensuring you enroll in the best plan for your unique circumstances.

Schedule your free, no-obligation consultation here. Or call us today at 800-913-3416.

Here are some additional blogs for reference:

Get a Free Medicare Advantage Quote

Frequently Asked Questions

How does Medi-Share 65+ handle Medicare deductibles and copays?

Medi-Share 65+ is designed to help seniors manage their Medicare-related out-of-pocket costs. 

Once you’ve met the $500 annual household contribution, Medi-Share 65+ covers 100% of your Medicare-approved deductibles and copays for Parts A and B.

This provides significant relief from unexpected medical expenses. However, there are a few exclusions, as outlined in the plan, that may limit certain cost-sharing options.

Are there secular health sharing organizations as well?

Yes, but none of them are currently marketing health sharing to the Medicare beneficiary market at this time.

There are several secular health sharing organizations catering to members who are under age 65, however.

Contact a Personal Benefits Manager if you have members of your household who are not yet 65 and you want to save money compared to paying outrageous traditional health insurance premiums. 

Does Medi-Share 65+ offer telehealth benefits, and how do they work?

Yes, Medi-Share 65+ provides members with round-the-clock access to board-certified physicians via telehealth.

This benefit allows quick consultations and diagnoses for common health issues, and it’s available 365 days a year, ensuring accessible healthcare without concerns about cost or transportation.

What discounts and savings programs does Medi-Share 65+ offer?

With over 400,000 members nationwide, Medi-Share leverages its collective bargaining power to negotiate discounts with top medical service providers, including dental and vision care.

Members also receive a Select Savings Card for substantial discounts on items such as diabetes care supplies, hearing aids, and even Lasik surgery.

How does Medi-Share 65+ compare to other healthcare programs like Medigap and Medicare Advantage?

Medi-Share 65+ is a non-insurance alternative designed to share all deductibles, co-pays, and coinsurance for Medicare Parts A and B over a $500 member responsibility amount.

It offers flexibility in choosing providers, has low monthly contributions, but does not cover prescription drugs.

Is there a price lock-in guarantee with Medi-Share 65+?

Yes, members who join Medi-Share 65+ at age 65 are eligible for a 10-year price lock-in period.

Monthly contributions will not increase for a decade after signing up, a feature not offered by Medicare supplement insurance carriers.

What pre-existing condition restrictions apply to Medi-Share 65+ enrollment?

During your initial Medicare open enrollment period, there are no pre-existing condition restrictions for enrollment.

If you enroll between October 15th and December 7th each year, there are also no restrictions. Outside of these windows, Medi-Share 65+ covers pre-existing conditions after sharing costs for six consecutive months.

What medical expenses are excluded from cost-sharing under Medi-Share 65+ due to its nature as a Christian health-sharing ministry?

Medi-Share 65+ does not cover expenses arising from suicide or attempted suicide, self-inflicted injuries, abortion of a live fetus, DUI-related injuries (even for passengers), treatment for drug or alcoholism addictions, injuries from activities with flagrant disregard for safety, and injuries resulting from the commission of a felony.

Cost sharing for motorcycle accident-related injuries is also limited to $100,000 per plan year.

Are there any limitations on sharing expenses for treatments outside the United States with Medi-Share 65+?

Medi-Share 65+ limits sharing of expenses outside the U.S. to medically necessary urgent medical care and only shares up to 80% of these expenses.

The remaining 20% is the responsibility of the member.

Can non-U.S. citizens join Medi-Share 65+?

Medi-Share 65+ membership is open to full-time legal residents of the United States. Medical bills incurred while not a legal resident, are not eligible for cost sharing.

Can individuals who are not eligible for Medicare still join Medi-Share 65+?

Medi-Share 65+ is specifically designed for those aged 65 and older who are enrolled in Original Medicare (Parts A and B).

However, if you’re under 65 or not yet eligible for Medicare, Medi-Share offers other health-sharing programs that may be a perfect fit. These plans can save you 40% to 50% compared to traditional, unsubsidized insurance policies.

If you’re looking for affordable healthcare options before qualifying for Medicare, Medi-Share’s other programs could help you significantly lower your healthcare costs.

To learn more, contact a Personal Benefits Advisor.

Is it possible to suspend membership fees in case of income loss due to illness or injury?

Monthly contributions may be waived for up to three months per 12-month period if a member’s illness or injury causes a loss of income. Approval and monthly review by CCM are required, along with the submission of supporting evidence.

How often is the annual household portion (AHP) reset in Medi-Share 65+?

The AHP resets every year based on the anniversary of your Effective Date, not according to the calendar year. 

This means that your $500 AHP will restart annually on the same date you first joined Medi-Share 65+, ensuring consistency in how your expenses are tracked, regardless of the traditional January 1st reset common with many insurance plans.

What is the maximum limit for sharing benefits in Medi-Share 65+?

Except for injuries arising from motorcycle accidents, there are no annual or lifetime limits on sharing benefits within Medi-Share 65+.