Adjusted Amount – the discounted or repriced amount.
Administrator – The 3rd party company utilized by REDEEM to process members’ medical bills for discounting and eligibility determination.
Amount Approved for Sharing – the portion of the Adjusted Amount that is eligible for sharing as per the program Guidelines.
Annual Unshared Amount (AUA) – The dollar amount a Household pays toward their own Eligible Medical Bills during a 12-month period. Members may share in Eligible Medical Bills in excess of the AUA. The AUA 12-month period begins on the Effective Date for the membership.
Available Balance – the total sum that is available for sharing a new eligible medical bill and/or Withdrawal. It is the Total Balance minus the Pending Balance minus the Restricted Balance.
Bill Approved for Sharing – An Eligible Medical Bill that meets the criteria for sharing in the Guidelines and meets the other conditions for sharing, including whether the member’s AUA has been met and other sharing limits have not been exceeded.
Bill Status – References the processing stage/state of a specific Need or Bill. Cancellation Date – The last day of the month that a membership of an individual or household ends due to the member’s withdrawal or an administrative cancellation.
Charge Amount – the gross amount billed by the Medical Provider.
Click to Share – a function that enables a Primary Member to initiate an “on-demand” EFT from an External Bank Account or credit card to transfer the Total Share Amount Due specified in their Monthly Share Notice to the membership’s Share Account.
Debits & Sharing – The “Negative (-)” transactions debited out of the member’s Share Account, which would be Miscellaneous Required Portion (i.e. Debits), Optional Portion, and Share Portion.
Deposits & Credits – The “Positive (+)” transactions that are credited to the member’s Share Account, such as EFT Transfers (i.e. Deposits) and Shared Funds Received (i.e. Credits) that a member might receive to pay their eligible medical bill.
Effective Date – The first day of the month that the member’s current AUA has begun. This Date may be different from the Membership Date if a Member has switched some elements of their membership.
Eligible for Sharing – Any testing, treatment, procedure, or service that meets the criteria for sharing as established in the Guidelines, including AUA and co-share requirements.
Eligible Medical Bill – An incurred medical bill that meets the criteria for sharing as established in the Guidelines, the Eligible Medical Bill may be reduced by any discounts, fees, or other sources of payment.
Explanation of Sharing (EOS) – is a notice sent to a member detailing the eligibility status of a bill, any discounted amounts, and what portion of the remaining Charge Amount has been shared by REDEEM members, and any remaining amount that must be paid by the member.
External Account – an existing bank account that is linked to the Primary Member’s Share Account and is used to transfer via EFT the Total Share Amount Due into the Share Account each month.
Illegal Drugs – any “controlled substance” or “dangerous drug” which has not been legally prescribed and/ or dispensed, or the use of a prescription drug which is not in accordance with the manner in which it was prescribed.
Know Your Customer (KYC) - an automated process to ensure compliance with US banking regulations
Member – Any member of the REDEEM HealthShare Ministry program, including each family member participating in a member household.
Member Household – The related family members participating in the REDEEM HealthShare Ministry program.
Membership Date – The date a member’s participation in REDEEM begins. Medical bills incurred after this date may be considered for sharing among members.
Monthly Share Amount – the sum of the Share Portion and Required Miscellaneous Portions published in the Share Notice.
Need – is a grouping of medical bills by a medical event such as knee surgery. Individual medical bills may sometimes be referred to as a “Need.”
Past Due Date – the day of the month that a delinquent Total Share Amount Due becomes past due.
Past Due Reminders – are Share Notice Reminders sent to members who have not paid their Share Notice and are past due.
Payment Reminders – are Share Notice Reminders sent to members the Total Share Amount has not yet been paid.
Pending Balance – the sum of EFT(s) that have been initiated but have not yet been posted to the member’s Share Account.
Permissions – are auto-enable functions (ex. Auto- Share) that are set and managed by the Primary Member.
Pre-Existing – Pre-existing medical conditions are defined as conditions in which known signs, symptoms, testing, treatment, diagnosis, or use of medication occurred within 36 months prior to the membership start date. Routine or maintenance medications are considered treatment and are included in this definition, based on medical records.
Previous Balance – is the sum of any past due, unpaid amounts published in the Share Notice.
Primary Member – An adult member that is the main contact for the household membership and Share Account owner.
Published Amount – the portion of the Adjusted Amount that is eligible for sharing and has been published/ allocated to the members for sharing.
Received Date – the date that REDEEM receives the medical bill and begins processing the bill for eligibility.
Required Miscellaneous Portion – an amount set by the HCSM to fund certain described activities, such as its administrative and program expenses.
Restricted Balance – the sum of funds that have been credited to the member’s Share Account for the purpose of paying an eligible medical bill.
Service Date – the date that the member (patient) received services from the medical provider.
Share Account – the member-controlled virtual account that is linked to both the member’s External Account and the member’s deposit account at America’s Christian Credit Union and is used for all sharing transactions and activities.
Share Due Date – the day of the month by which the Total Share Amount Due must be transferred via EFT in full.
Share Notice – the written notification to a member that details the Total Share Amount Due for the month.
Share Notice Date – the day of the month that the Share Notice is published and distributed.
Share Payment (Funding) – transferring funds (Total Share Amount due) from a member’s External Account to their Share Account.
Share Portion – the portion of the Monthly Share Amount that is collected and used specifically for member-to-member sharing of eligible medical bills.
Shared Amount – the Published Amount that has been shared and collected in the member’s Sharing Account.
Sharing (Member-to-Member Transfers) – moving funds from a sending member’s Share Account to a receiving member’s Virtual Bill Account.
Total Balance – the sum of the Pending Balance, Restricted Balance, and Available Balance in a member’s Share Account. Total Share Amount Due – the sum of the Monthly Share Contribution Amount (Share Portion and Required Miscellaneous Portion), Optional Portion (auto-enabled by the member), Service Fee, and any past due amount (Previous Balance).