Product Descriptions

Medicare Medical Savings Account (MSA) plans are private companies that the federal government pays to administer Medicare benefits. Like all Medicare Advantage Plans, MSA plans must provide you with the same benefits, rights, and protections as Original Medicare, but they may do so with different rules, restrictions, and costs. Some MSAs offer additional benefits, such as vision and hearing care. Unlike other Medicare Advantage Plans, MSA plans include both a high deductible health plan (HDHP) and a bank account to help pay your medical costs.

You must have both Parts A and B to join an HDHP and an MSA, and generally you will continue paying your Medicare Part B premium. Some MSA plans charge an additional premium, on top of your Part B premium. MSA plans cannot offer Part D coverage. To receive coverage for your prescription drugs, you must join a stand-alone Part D plan.

You can only enroll in an MSA plan…

  • When you first sign up for Part B
  • Or, during the Fall Open Enrollment Period

You cannot…

  • Join an MSA if you have any other type of health insurance, including Medicaid, Veterans Affairs benefits, Federal Employee Health Benefits, or many kinds of employer or retiree insurance.
  • Have any employer or retiree coverage that would pay during your MSA deductible. Speak to your human resources department or benefits manager for more information.
  • Only Medicare Advantage Plan to give and grow money!
  • No Network – access to any Medicare Provider
  • Enhanced tax-free expense coverage
Key Features of the MSA Plan:
  • $0 monthly premium
  • No network — access to any Medicare-participating provider
  • Freedom to choose the best Part D plan
  • Potential to grow account balance over time
  • Investment opportunities for balances over $2,000
  • Special tax advantages — balance and qualified expenditures not taxed
  • Earn up to $250 in gift card rewards to major retailers via our health incentives
  • Special group plan designs available for Medicare-eligible retirees and active employees
  • Your MSA plan may offer additional benefits, such as vision, hearing, and/or dental care.
  • MSA plans typically do not charge a monthly premium in addition to the Part B premium, but some may.
  • MSA plans work with a high deductible health plan (HDHP) and a bank account. Your plan deposits funds for your medical expenses into the bank account, and you can then use these funds to pay for care.
  • Funds contributed to an MSA are not taxed, as long as they are used to pay for qualified medical expenses.
  • You will be responsible for expenses beyond the plan contribution, up to the plan deductible. After reaching your deductible, your MSA plan covers 100% of the cost for Medicare-covered services.
  • You can use MSA funds for other expenses, but those funds will be taxed and will not count toward your HDHP deductible.
  • Any remaining money in your bank account at the end of the year remains in your account for the next year, in addition to your plan’s regular yearly contribution.
  • MSA plans to not provide Part D coverage, and you must join a stand-alone Part D plan for such coverage. Out-of-pocket expenses for your prescription drugs do not count toward your MSA plan’s deductible.
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