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Honored Social Butterfly

Medicare Medical Savings Account Plan - Medicare Advantage

Does anybody have one of these Medicare Medical Savings Account Medicare Advantage Plans?

They aren't available everywhere but just want to know if you know about them or if you have one and your experience with it?  

 

AARP/UHC - Medicare Make Clear - What is a Medicare Medical Savings Account Plan? 

 

Medicare.gov - Medicare Medical Savings Account (MSA) Plans 

It's Always Something . . . . Roseanna Roseannadanna
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The MSA’s make a lot of since for people who are healthy, (at least for now), and who rarely go to the doctor. This would be my plan of choice if I could find people who have it and can help answer questions about it. The things I worry about l’m sure are the same as most people. 1. How difficult will it be to get providers to understand and accept the insurance. 2. The biggest concern for me is, what can they do with future deposits vs deductible? Currently they offer 2 plans. One deposits $2000 annually, (the year end balance accrues year over year), with a $5000 deductible, (net $3000), and one that deposits $3200? With a $7000 or $8000 deductible. Sorry not firm on the second one because I was only interested in the $2000/$5000. My question would be, is the a % they are allow to change annually or can they do whatever they want. Could it change over time to $500/$10,000? Is there a cap to how much they can change the deductible too?

This seems like the perfect plan for me but not knowing the answer to these questions keeps me from joining. It’s sad that information on this is lacking and since nobody’s selling it they can’t and don’t want to explain it. When I ask they just say, we don’t like it. It’s just a MA plan with a really high deductible. $3000, that not much different than a G/HD plan but it’s $0 premium. Normal MA’s have $6,700 deductible’s. Basic math makes it easy to see big savings in the long run if you don’t need much care. But say 3 years later you get cancer. You’d be in the same boat as the G/HD but you might have $6000 to pay towards your $5000 deductible. If only there were answers that had some positive assurances.

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Honored Social Butterfly

@GailL1   How about expanding my knowledge and  answering my question regarding Medicaid?

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@GailL1    I have a question for you regarding Medicaid.  Are there any financial limits to be able to obtain Medicaid?  I have my great Granddaughter on Medicaid. and I don't understand as to why. her income is over 65,000 a year and she has that kid on Medicaid. According to her there are no case workers any longer and I guess her doctor is the one that signs her up for this program. this child is 18 months and  what are the prospect for this child to continue on Medicaid?

 Obviously things have changed from the time that I was working those programs. It was not tht easy to qualify for these programs and to maintain themrselves  in this situation.

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Honored Social Butterfly

Your question does NOT relate to this thread.  But I will try to answer as best I can with limited details because your post lacks a lot of information - so I just have to guess.  Yea, a lot has changed in the last decade especially for child coverage.  There are many different plans now especially for kids.

 

The 18 month old coverage - most likely, they aren't really on Medicaid but rather Florida's Childrens Health Insurance Program (CHIP).  Think they call it - Florida KidCare 

National Academy for State Health Policy: Florida CHIP Fact Sheet 

from the link ~

For more than two decades, the Children’s Health Insurance Program (CHIP) has provided health coverage to children in families with low to moderate incomes. Each state has the option to cover its CHIP population within its Medicaid program, design and structure a separate CHIP program, or establish a combination program using both options.

 

Eligibility for Florida KidCare and under which program and what agency governs it:

HealthyKids.org - What is Florida KidCare 

 

There are (3) different Florida Kidcare programs - each with a level of monthly premiums from ZERO to Full Pay Plans.

2021 Florida KidCare Income Guidelines 

 

Note the footnote:  

Florida KidCare eligibility depends on other factors beyond a family’s annual income.

 

I believe you said previously that your Granddaughter (the mother of the 18 mon old) is disabled.  Her disability status could play a part in her child getting Florida KidCare in some other category than Full-Pay - but you will have to ask her if she pays a premium or not - 

 

I have no idea why your granddaughter would be on MEDICAID with an income of $ 65,000 - are you sure she is not on MEDICARE ?  If she didn't qualify on her own work record, since her disability (?) happened when she was relatively young, she could be getting MEDICARE under one of her parent's benefit.  Edited:  You cleared this up in your next post - so strike this

 

For both, you will have to actually see how their insurance cards are titled as to the source of their benefit and what their premiums might be.  ( Medicaid, Medicare, KidCare and which of the three types - my guess from what you said about income is the MediKids /
Florida Healthy Kids)   

Like I said, not enough information for me to do anything but guess. 

EDITED:  my post to you in this thread of ‎06-02-2021 06:57 PM - answers your question better since I understand it better.

 

 

 

It's Always Something . . . . Roseanna Roseannadanna
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Thanks Gail, for all the info. mY granddaughter is not disabled, she is quite healthy.  and claims that she cannot afford an ACA plan with her and her daughter. . I am disapointed as to why these programs exist. when I was working these programs they were for the poor people and I don't think she is poor.

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@Roxanna35 

I am sorry about the disabled - must have read your post wrong.

But you understand now that the 18 month old get FL CHIP - it is state designed.

Points from my previous links in my response to you on the coverage for the 18 month old.

  • For more than two decades, the Children’s Health Insurance Program (CHIP) has provided health coverage to children in families with low to moderate incomes.
  • Each state has the option to cover its CHIP population within its  Medicaid program, design and structure a separate CHIP program, OR establish a combination program using both options.

Florida covers them in (3) separate categories based on income

Here is the chart - (you can make it bigger with the enlarge icon)

Florida KidCare 2021 General Annual Income Limits 

Screenshot 2021-06-02 182421.png

 

With the income level you stated, I am gonna guess the kid is on the MediKids / Florida Healthy Kids Program - Full-pay plan for those with incomes of 200.01% of FPL (Federal Poverty Level) & over.

 

Now to the adult - your granddaughter (healthy).  When did she last check what her premiums would be under the ACA cause things changed in April 2021.

 

The American Rescue Plan Act  (Covid Stimulus) that President Biden signed in March 2021 contains an expansion of the ACA subsidies - these provisions have a end date of about (2) years but they are in effect right now.

Health Affairs.org - 03/17/2021 - New ACA Subsidies Available On April 1 

from the link ~

President Biden signed the sweeping American Rescue Plan Act into law on March 11, 2021. Among its many provisions, the new law includes historic expansions of the Affordable Care Act (ACA) that will significantly improve premium affordability and access to marketplace coverage.

 

How does the American Rescue Plan affect health insurance coverage? The new law extends ACA premium subsidies to higher-income people who did not previously qualify (for 2021 and 2022); increases ACA premium subsidies for lower-income people who already qualify (for 2021 and 2022); offers maximal subsidies to those who receive unemployment benefits (for 2021); and prevents individuals from having to repay excess ACA subsidies at tax time (for 2020). The new law also subsidizes COBRA continuation coverage for laid-off workers (from April 1 to September 30, 2021) and includes new incentives for states that have not yet expanded their Medicaid programs (for two years).

 

Enhanced Subsidies Under The American Rescue Plan

The American Rescue Plan bolsters the availability of premium tax credits (PTCs) for millions of lower- and middle-income people and families.  First, individuals whose income is above 400 percent of the federal poverty level (FPL) are eligible for PTCs for the first time. There is no upper income limit on PTCs, meaning that all middle- and upper-income individuals who purchase their own coverage can access PTCs if their premiums exceed 8.5 percent of their overall household income.

↕️  

 

She should go again to Healthcare.gov - work through the questions and select a plan and then continue on to find out what her premiums and subsidy would be.  They have extended the enrollment for 2021 to August 15, 2021.

Healthcare.gov - extended enrollment for 2021  

 

If she still can't afford this - ??????????????????????????

 

We square now?

It's Always Something . . . . Roseanna Roseannadanna
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.

@GailL1 

Other than watching “Broadway Joe” Namath as a spokesman for an insurance company who sells the MSA Medicare advantage plans in between the game I don’t know much else about those plans.

Although I did hear a little about them from some knowledgeable insurance professionals.

In my state Medicare recipients younger than 65 are limited to MA plans and then only certain companies. But once they become 65 then they have guaranteed rights to Medigap plans.

I‘ve was told MSA plans could be a good selection for disabled Medicare beneficiaries younger than 65 as long as they are not on Medicaid.

They have to do the math if that’s possible to determine because of their health what their deductible could be. In 2020 the highest allowable deduction for an MSA was $13,400 but many of these MA plans have lower deductibles than that.

To me it’s a crapshoot. How do you know what your health condition is going to be for 2021?

A skilled insurance professional told me years ago when you’re purchasing a Medicare health insurance plan don’t buy a plan based on your healthiest day buy one based on what your worse health day could be.

 

 

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@ReTiReD51 

Sorry for the delay - been away.

I don't think the Medicare Medicare Savings Account Medicare Advantage Plan is what "Broadway Joe" is advertising.  I believe he is advertising a product called a Medicare (Dual) Special Needs Plan - for those seniors with low income - that's why they get their Medicare Part B premiums paid for by the plan (government) and many times have extra benefits added like vision, hearing - even their meds are covered and other stuff too, like transport to medical appointments, sometimes food delivery and other such benefits depending on the plan and their needs.

Medicare.gov - Special Needs Medicare Advantage Plans 

 

This DIFFERS a lot from the plan which we are discussing here - the Medicare Medical Saving Medicare Advantage Plans.  A HIGH deductible plan.  Here is a synopsis about it from Medicare.gov and an article written about them a few years ago by PBS.

Medicare.gov - Medicare Medical Savings Account (MSA) Plans 

 

PBS 08/12/2019 - Why these unique Medicare Advantage plans are poised for popularity 

 

I do think these MMSA plans are now getting a 2nd look by many even though they have been around for many years.  somarco is right only a few companies offer them and not in every state - Lasso Health is probably the biggest insurer.

 

They are like a bridge between traditional Medicare and a Medicare Advantage plan -

Some of their highlights are:

  • no premiums for the plan just be enrolled in Medicare Part A & B (and pay your premiums for Part B)  You also have to have a free-standing Med D plan because it is not included in this type of MA plan.
  • the insurer funds your Medicare (HSA) Savings Account yearly - you use it for your medical expenses and just roll over whatever is remaining at the end of the year.  The way I see this, a healthy senior could build up a bounty for many years.
  • the plan is linked to a HIGH deductible MA plan but you can see ANY doctor that accepts Medicare - NOT limited to some Medicare Advantage network.  Thus this opens up some travel restrictions.
  • When medical expenses are incurred - as long as you go to ANY doctor that accepts Medicare, they bill you the Medicare rate.
  • all of your Medicare approved paid expenses are counted towards the (high) deductible.  

I am sure that it is not a right fit for everybody but for some people who have been use to high deductible plans, or maybe are very healthy for many years at least or who see the benefit of a more catastrophic plan for their coverage, it seems like it could be a good fit - especially when the payment bill is based on the Medicare rate and you can see any doctor that accepts Medicare.  

 

I guess I was just surprised that this type of plan existed at all and especially since they have been around for a long time.  

 

Do you see a new interest in these type plans for at least those who find them attractive based on their own (healthcare) lives, planning and desires?  Course anything can change in ones life and with government's oversight of Medicare.

It's Always Something . . . . Roseanna Roseannadanna
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@GailL1 the Namath ads are not plan specific. This allows the pitch man to "legally" talk about properties indigenous to supplement, MA, DSNP, etc all rolled into one.

 

When a viewer calls the number the agent is free to discuss any plan they choose and extol the virtues of the one that pays the highest commission.

 

It would surprise me if they are targeting DSNP due to the limited audience that qualifies for the plan. Also, DSNP can be changed quarterly and underwriting is not a condition. Agents that work that market are constantly churning and replacing existing plans.

 

When a marketing agency is putting the kind of dollars spent on a Namath type of ad they hope to generate client loyalty with the ability to buy add-on policies for cancer, burial insurance, etc.

 

MSA plans have even less appeal in the Medicare market than they did in the under 65 market. The original U65 MSA eventually migrated to the HSA which likewise had nominal appeal.

 

The unique thing about Lasso is the lack of a network. This makes it kind of a Medigap/MA hybrid which sounds wonderful but Medicare providers are reluctant to accept the plan.


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@somarco 

Well, Thank you for explaining the "Joe" commercial - since he talks about "giving" back the Part B premium, I sure thought it was specifically directed to the low income group that would qualify for this - but now I understand, it is a catch-all - get them in and then sell them what they can get.

 

Back to the topic - you said:

The unique thing about Lasso is the lack of a network. This makes it kind of a Medigap/MA hybrid which sounds wonderful but Medicare providers are reluctant to accept the plan.

Well, that's a bummer . . . . why are they reluctant?  Because it is the beneficiary that is paying?  They don't know how to do the billing?  

It's Always Something . . . . Roseanna Roseannadanna
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@GailL1 Lasso soon to be acquired by Zing Health.

 

https://hitconsultant.net/2021/05/19/zing-health-acquires-lasso-healthcare/#.YKqW8qhKiUk


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@Gail.    These are the subject matters that would be of enourmous help  in our forum you are in manty ways an expert in this field. consider expanding your knowledge.

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@Roxanna35 wrote:

@Gail.    These are the subject matters that would be of enourmous help  in our forum you are in manty ways an expert in this field. consider expanding your knowledge.


"our forum"?  "expanding my knowledge" ?  Reddit already has a Medicare board - as well as a Social Security board - 

It's Always Something . . . . Roseanna Roseannadanna
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@somarco wrote:

@GailL1 Lasso soon to be acquired by Zing Health.

 

https://hitconsultant.net/2021/05/19/zing-health-acquires-lasso-healthcare/#.YKqW8qhKiUk


Thanks for the info - can't wait to see how Zing Health does with the concept.

Zing Health sounds like a new player to the health field.  I also am having a hard time linking these separate concepts.

https://homehealthcarenews.com/2021/05/zing-health-announces-expansion-sets-sights-on-larger-partner... 

 

Maybe they are just getting onboard for some home health care funds (infrastructure).  

 

It's Always Something . . . . Roseanna Roseannadanna
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