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Medicare Medical Savings Account Plans (MSAs)
Medicare Medical Savings Account Plans (MSAs) are similar to Health Savings Account plans available outside of Medicare, and they have two parts. The first part is a Medicare Advantage Plan with a high Deductible . This health plan won't begin to pay covered costs until you have met the yearly deductible, which varies by plan. The second part is a Medical Savings Account into which Medicare deposits money that you may use to pay health care costs.
For more information about Medicare MSA plans, visit www.medicare.gov on the web and view the booklet "Your Guide to Medicare Medical Savings Account Plans." Or, call 1-800-MEDICARE (1-800-633-4227). TTY users should call 1-877-486-2048.
(Primary Source: Centers for Medicare and Medicaid Services - Medicare and You Handbook 2007. This content may have been added upon by Q1Group LLC to include further examples, explanations, and links.)
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Last updated on: 07/18/2008
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