MSAs (Medicare Medical Savings Accounts)
This combines a medical savings account with the high-deductible Medicare Advantage plan. MSA plans will deposit money into a person’s savings account that can be used to pay for medical visits and other expenses before the deductible has been reached. When the deductible has been reached, the plan starts to pay for those services Medicare covers.
MSAs don’t offer prescription drug coverage, which is why you’ll need to get a stand-alone Medicare Prescription Drug Plan.
Are You Eligible For A Medicare Advantage Plan?
Medicare Part C eligibility is only plausible if you have the Part A and Part B plans of Original Medicare. With these plans, you can enroll in a Medicare Advantage plan if you meet the qualifications:
- Live in an area it services
- Have not been diagnosed with end-stage renal disease
Some exceptions to the eligibility requirements include enrolling in a Special Needs Plan geared toward end-stage renal disease. Eligibility for Medicare C can depend on a host of other situations. To determine if you qualify, you need to call the Medicare office at 1-800-633-4227 any time of the day or night.
People who have other healthcare coverage should reach out to their plan’s sponsor before enrollment in a Medicare Advantage plan. Some healthcare plans will end coverage if you go with a Medicare Advantage Plan. If you want to end Medicare Part C coverage, you could find that you cannot go back to the original coverage.
