Medicare Medical Savings Account (MSA)

Are you Medicare eligible? Gain more control over your healthcare with a Medicare Medical Savings Account (MSA). An MSA is a $0 premium health plan combined with high-deductible health coverage and a special medical savings account.

Money is deposited into your account, and you decide what healthcare services to spend it on. There are no provider networks, and once you reach your plan deductible, 100% of your Medicare-covered expenses are paid for. It’s Medicare, well spent.


What Is An MSA?

When you turn 65, it’ll be time to decide what your Medicare healthcare plan will be. Have you ever considered a Medicare MSA?

The MSA is a hot buzzword right now, because it’s a very compelling alternative to traditional Medicare coverage. An MSA, or a Medical Savings Account, combines high-deductible health coverage with a special savings account that’s funded by the government. Can anyone say free money for qualified medical expenses?

We've been recommending Medicare plans to our clients for over 30 years now, and we can confidently say that this is one of the most consumer-friendly options in the Medicare space. In fact, we have agents with us that have been selling insurance for decades, and they’ve said, “This is the product I’m going to choose when I turn 65.” That’s really saying something!

Read More: This New Medical Savings Account is a Compelling Medicare Alternative


Why Choose An MSA?

As we get closer to aging into Medicare, it’s important to understand your healthcare options. With an MSA, you don’t have to worry about small provider networks or high monthly premiums.

With an MSA, you have choices. See your favorite doctors and even use your special deposit, funded by the government, on qualified medical expenses that Medicare won’t cover, like eyeglasses and dental work. Historically, that deposit has been around $2,500 for the year, but the plan benefits change each year. 

Ultimately, the deposit that comes with an MSA plan is yours to spend, move to your own bank, and/or invest. 


Can An MSA Save Me Money On My Medicare Plan?

We know it takes some time to get comfortable with, but we have a couple of real examples of clients who have switched from their current plan in order to get an MSA.

Client #1: Switched from a Medigap Plan G

The first individual had a Medigap Plan G. He was paying $1,500 per year in premium.

If he had the Lasso MSA for 3 years, he would have accumulated over $7,500 in his medical savings account. Even if he spent $500 per year in medical expenses from that account, he’d still have $6,000.

That would mean he’d have $0 out of pocket expenses moving forward. PLUS he avoided $4,500 in Medigap premiums.

This makes a lot of sense if you’re healthy and only go to the doctor for semi-annual or annual checkups.

Client #2: Switched from a Medigap Plan F

For our second example, we were discussing the MSA with a couple living in a small town. Their total combined premium for their Plan Fs was $8,000 per year – they’re in their early 80s.

Between them both, they’d start out with over $5,000 in their medical savings account. PLUS they avoid paying $8,000 per year in premiums. That is an immediate difference of $13,000!

It’s a pretty great feeling to help a couple in their 80s experience a $13,000 difference in their budget!

Read More: Is a Medical Savings Account (MSA) Better Than a Medigap Plan?


Want to Learn More About MSAs In Your Area?

We can help you compare your current health plan to this brand new Medical Savings Account (MSA). Our help is always free of charge.

Simply fill out the form below to get started!