I still have a few years before I turn 65 and start using Medicare but I consider this option one of the best options out there!
I know there are a lot of options for someone turning 65 but I believe for most people turning 65 and going onto Medicare they should consider a MSA Plan or what is commonly referred to as a Medical Savings Account. The MSA plans reimburse providers in the same way that Medicare pays them. These plans have a high deductible of $3000 but, every year Medicare gives the beneficiary $1500 in an MSA account to use towards that $3000 deductible. If they do not use the money it will roll over to the next year. If they use the money in the account that year, another $1500 will be deposited for them the following year. The best part of these plans is that you limit your total out of pocket expenses in any given year to just $1500. A Medicare Supplement can cost twice that amount depending on your age and where you live. The MSA plan accomplishes a lot of what a Medicare Supplement accomplishes but at a lower annual cost. In addition, there are no networks or referrals to deal with so you can see just about any practitioner that accepts Medicare. For more information on MSA plans you can visit http://www.medicare.gov/pubs/pdf/11206.pdf or you can also visit www.MyMedicareQuotes.com
By Joe DeAngelis
Joe@MyMedicareQuotes.com
02/21/2014
This post was contributed by a community member. The views expressed here are the author's own.
The views expressed in this post are the author's own. Want to post on Patch?
