In this post in the Vocabulary Series, where we take a closer look at the unique words and terminology used by different health share companies, we’ll be exploring Sedera, a medical cost sharing organization facilitating peer-to-peer sharing of medical costs. Just like any other company in the industry, understanding their terminology will be key to understanding how they operate and what they offer, so let’s take a look at the words they use:

Initial Unshareable Amount (IUA)

Though it goes by lots of different names, the IUA is an important concept in the health share industry. This is the specific dollar amount that members are responsible for paying before any medical bill can be eligible for sharing through the organization. However, unlike other organizations which usually track IUAs annually, Sedera applies their IUA on a per-need basis, so you’d want to make sure you understand the limits of this model before joining to avoid any surprises.

Need

In the world of health shares, a need refers to one or more medical bills resulting from an injury, illness, or medical event that affects an eligible member. It’s the basis for sharing within the community. Think of it as the medical event or series of treatments you might need financial help with.

Needs Case

A needs case is a need that has been submitted to the Sedera community for sharing consideration. It is the process of taking your individual medical bills and presenting them to the community for financial support, following the guidelines set by Sedera.

Shareable

Shareable is a term that defines whether a medical bill or need is eligible for sharing within the community. Not all medical expenses might be shareable, so understanding this term can help you know what costs can and cannot be supported by the community. This too should be an important part of your research before joining any health share.

Maximum Shareable Amount

This term refers to the cap or limit on the amount that can be shared for any single need. It’s a safeguard within Sedera’s system to manage the sharing of expenses effectively. Each medical condition might have a different maximum shareable amount, and these should be outlined within the membership guidelines

Monthly Share

The monthly share is the amount each member contributes to the Sedera community every month. Many people tend to think of it like a monthly insurance premium, but instead your monthly share goes directly into supporting the medical needs of fellow members.

Glossary of Sedera’s terms covered

Understanding terms like these can be vital if you’re considering joining Sedera or a similar healthcare sharing community.

Initial Unshareable Amount (IUA): The dollar amount members pay before a medical bill becomes eligible for sharing.

Need: Medical bills from an injury, illness, or medical event for an eligible member.

Needs Case: A Need submitted for financial support from the Sedera community.

Shareable: A term indicating eligibility of a medical bill for community sharing.

Maximum Shareable Amount: The limit on the amount that can be shared for a specific need.

Monthly Share: The regular financial contribution by members to support the community’s medical needs.