Medicare Savings Account Plan Enrollment

Sponsors of Medicare Advantage health care plans approved by Medicare that accept applications for enrollment in a consumer-directed Medicare Advantage Plan called an MSA Plan that combines a high-deductible insurance plan with a medical savings account that beneficiaries can use to pay for their health care costs. MSA Plans have two parts: the high-deductible health plan which will only begin to cover the individual's costs once the high yearly deductible (which varies by plan) is met; and a special type of savings account into which the MSA Plan deposits money. Beneficiaries can choose to use money from the savings account to pay for any health care costs they incur before they meet the deductible.