Medicare Savings Account (MSA) Plans
Medicare MSA Plans combine a high-deductible insurance plan with a medical savings account that you can use to pay for your health care costs. These plans consist of:
- High-deductible health plan: The first part is a special type of high-deductible Medicare Advantage Plan (Part C: The plan will only begin to cover your costs once you meet a high yearly deductible, which varies by plan.)
- Medical Savings Account (MSA): The second part is a special type of savings account. The Medicare MSA Plan deposits money into your account. You can use money from this savings account to pay your health care costs before you meet the deductible.
How do MSA Plans work?
Medicare MSA plans cover the Medicare services that all Medicare Advantage Plans must cover. In addition, some Medicare MSA plans may cover extra benefits for an extra cost, like:
- Long-term care not covered by Medicare
Let us help you find plans to suit your needs and determine if you need the extra benefits they cover
Medicare MSA Plans do not cover Medicare Part D prescription drugs
If you join a Medicare MSA Plan and need drug coverage, you'll have to join a Medicare Prescription Drug Plan. Call us to help you find a Medicare Part D prescription drug plan.
Information about MSA came from www.medicare.gov