What Are the Sharing Protocols That Make Impact Health Sharing Different?

Phil Chrysler, President and CEO of Impact Healthcare Sharing, while where are alot of good healthcare sharing organizations out there not all of them share in it's most modern and purest form. At impact, beucase of the leading industry protocols, that are engineered into the patenent technology of our platform, we do just that! It's critically important for impact members or potential members or as marketing partner to understand these protocols. even as a provider of healthcare services it is vitally important unique member centric, industry leading feature that separate us from others. It's important to understand why we were so intensional with this process. there are 2 main reason. 1st - a regulatory perspective. A regulators job is to protect their constituants and a good sharing organization should want to make that easy for regulators. 2nd  - from a consumer perspective. We want consumers to clearly understand that healthcare sharing is not insurance, and how it differs from insurance. we want to make sure they have a high degree of confidence in the program and know that it works. healthcare is the 2nd largest expense for most households. we want to make sure it work for you, your spouse and especailly your children. let's start with the 1st one - No receipt of funds. One of the key ways members sharing is different from insurance is the way members actually particiate in the healthcare sharing process. Members simply make a monthly share deposit into their own designated account for sharing. Giving them ultimately control of their money. Impact never takes receipt of the funds. We do not pool funds like insurance companies do.  the 2nd protocol we engineered into the system is a concept of publishing. First, publishing the shared notice - when you hear the word "published" another word is just notficiation. the reason we use the word publishing is importnat becuase when you go back and look at the history of healthcare sharing they weren't originally newsletters. monthly newsletters that came out and were published and mailed out to everyone. we now live in this automated and digital world. so we just say published the needs digitally in the form of the share notice to each individual member. and what we share in that monthly notice is a detailed breakdown of the "use of funds". It shows how much is getting allocated, exactly how much is going to stay in the account, and be used for sharing, and how much goes to Impact to facilitate the program. 2nd - publishing the medical bills. We are publishing or notifiying our members when their share has been allocated and when it's been used to pay a medial bill. 3. No commingling of funds - Money used for sharing stays in the members own account and the money impact needs to run the program is taken out and to impacts own financial accounts. 4. distributed reserving - some healthcare sharing programs out there may find the word "reserving" scary - but it's really not. At impact healthcare sharing we built up balances in member own accoutns to create a level of liquidity, that allows us to match and allocate medical bills quickly. In the insurance world, they bring dollars into a centralized account and build up reserves to meet state requirements. however their aim is to make a profit. which creates a conflict of interest with the consumer. Our protocol of distrubted reserving monthly share is priced at a level to build a balance in the members account which is their money. simply a way to create liquidity and quickly allocate medical bills in a fiscally responsible way that puts needs of the members up first. 5. Member to member sharing - the concept of bill sharing is simple. when a member has a medical bill, they are matched and allocated to other members. the money moves in a peer-to-peer fashion from one account to another ensuring the funds go directly to the provider and not into someones pocket. 6. voluntary particiaption - It's important to know that members are notified before any money is moved out of their account. this transparanecy and control - a key difference between healthcare sharing and insurance. Members always have the choice to continue to contribute to the communities medical bills - ensuring it's all voluntaring. 7. Full transactional transparency - with full transactional visibility members can see very dollar that goes in and out of their account. giving them confidence of the fiscal soundness of the program. When money is moved from my account to yours it becomes restricted and cannot be accessed freely becuase it's been designated for the specific purpose of matching and sharing medical bills between accounts. As a member of the program you can see when you have been matched and allocated to a family and how much of your share is going to support their medical needs. you can even communicate with them and offer them well wishes. This experience is vastly different than how insurance operates. and its important for regulators and consumers to undrstand that. Impact healthsharing is not insurance. we are proud of the unique community focused approach. 8. third fiduciary party and agency- we have a 3rd party financial institution acting as the fiduciary handling all the movement of money. Impact cant even touch the money in the accounts. we have no access to it. it's a powerful safeguard that provides an extra layer of protection and ensures everything is done wiht transparency and integrity. These protocols are the backbone of Impact healthcare sharing and why we believe it works better and feels better."