Guidelines - V.E Virtual Bill Accounts, V.F Provider Payments & V.G Member Share Accounts/Wallet

E. Virtual Bill Accounts

If you have an eligible medical bill approved for sharing, the VSE will create a Virtual Bill Account for the payment of that bill. Each Virtual Bill Account linked to your Share Account is unique to 1) a member of your household, 2) a medical provider, and 3) a specific bill. Your Virtual Bill Account has restrictions so you cannot withdraw funds from your Share Account. Amounts collected will display only as a single line-item transaction in your Share Account.

F. Provider Payments

Virtual Bill Accounts remain open until the system receives all funds and transfers the approved sharing amount to your medical provider as payment for your bill, or to you for the amount you paid.

G. Member Share Accounts/Wallet

To process and pay medical bills quickly, REDEEM HealthShare uses a Share Account for all sharing transactions and activities. REDEEM HealthShare Ministry is NOT insurance. The ministry does not collect and hold medical reserves in a REDEEM controlled bank account. Instead, the monthly share amount is deposited in every member’s individually controlled Share Account. These Share Accounts allow REDEEM HealthShare to plan for the cost fluctuation of medical services.