Medicare Medical Savings Account Loans
What makes MSA unique from other Medicare Advantage Plans?
Medicare Advantage Plans often require a person to stick to a specific network of healthcare providers, while also requiring him or her to choose a primary care doctor from whom they would have to get referrals from to see a specialist.
The Medicare Medical Savings Account does not have these limitations. Instead, this plan:
- Allows you the freedom to get care from almost any healthcare provider
- Doesn’t require you to choose a primary care doctor
- Doesn’t require a referral to see a specialist
What is the defining feature of the Medicare Savings Account?
The Medicare Savings Account plan puts money into your savings account. You can use this to pay for any Medicare-related expenses prior to when you have to cover your deductible.
The following may be make-or-break (for both pros and cons) for those interested in joining:
- No prescription drug coverage
- Unused funds left over at the end of the year remain there. You can accrue significant savings, which become especially useful when you have substantial medical expenses
- This plan’s premium is usually $0 (still required to pay Part B premiums though)
- May come with extra benefits such as dental, vision, and hearing
- Also has a high-deductible version, in which you get full coverage once you pay the annual deductible
For more information regarding MSA plans, contact us today!
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