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Health & Fitness

MSA Medical Savings Accounts for people with Medicare

A Medical Savings Account (MSA) plan, pairs a high deductible Medicare Advantage Plan with a bank account that can be used to help pay for qualified medical expenses. MSA members can go to any doctor or hospital that accepts Medicare and agrees to see them. There are NO MONTHLY PREMIUMS! The MSA plan deposits a specific amount per year (usually $1500) into your Medical Savings Account to help pay for qualified medical expenses such as doctors visits, diagnostic tests such as X-rays, inpatient hospital stays etc. You can use this deposit to help meet the annual deductible of the plan (usually $3000). Your total out of pocket expenses would be $1500 any given year, and will be less if any monies are rolled over from a previous year. 
Once the deductible is met, the insurance company pays all Medicare approved expenses in full. If there is money left in the account after the end of the calendar year, it rolls over to the next year.

Here are some reasons a MSA plan may be right for you:

  • You have freedom to choose any medical professional that accepts Medicare and agrees to see you. There are no "Networks" to deal with and no referrals.
  • The plan includes a Medical Savings Account to be used for qualified medical expenses.
  • Once the deductible is met all Medicare allowed expenses are paid by the plan for the rest of the calendar year.
  • Money left in the Medical Savings Account rolls over to the next year.
  • 0 monthly premium.
These plans are a great way to save money when compared to the high rates for Medicare Supplement Plans.
 For more information on whether a Medical Savings Account may be right for you stop by http://www.mymedicarequotes.com/  or call 215-738-8100.

By Joe DeAngelis
Joe@MyMedicareQuotes.com
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