If you aren’t happy with the limited offerings of Original Medicare, consider a Medicare Advantage MSA plan. These plans combine a high-deductible insurance plan with a medical savings account that can be used to pay for any health care costs.
Curious about this unique form of Medicare Advantage coverage? Keep reading to learn more.
If you weren’t already aware, Medicare Advantage plans are an alternative to Original Medicare. They are sold by private insurance companies that have contracted with Medicare. Through Medicare Advantage plans, you can receive more benefits than you would with the traditional Medicare package. Additionally, all of your benefits are bundled into a single plan, making them easier to manage.
Medical Savings Account (MSA) plans are a unique form of Medicare Advantage plan that allows you to save money in an account. Though, one of the important parts of this plan that you must understand is the high-deductible component. This part of the plan requires you to pay a certain deductible before Medicare-covered services can be covered. Here’s how the two pieces of the plan work together:
With MSA plans, you aren’t tied to a network of providers. Though, you can get Part A and Part B-covered services from any Medicare-eligible provider in the U.S.