Mrs. Lyons is in good health, uses a single prescription, and lives independently in her own home. She is attracted by the idea of maintaining control over a Medical Savings Account (MSA) but is not sure if the plan associated with the account will fit her needs. What specific piece of information about a Medicare MSA plan would it be important for her to know, prior to enrolling in such a plan?
The correct answer is:
All MSAs cover Part A and Part B benefits, but not Part D prescription drug benefits, which could be obtained by also enrolling in a separate prescription drug plan.
Medicare Medical Savings Account (MSA) Plans are a type of Medicare Advantage Plan (Part C) available in some areas of the country. They are similar to Health Savings Account Plans available outside of Medicare. MSA plans include a high deductible health plan, which will not begin to pay benefits until the high yearly deductible is met, and a bank account into which Medicare deposits money that the beneficiary can use to pay healthcare costs.
However, it’s important to note that these plans don’t cover prescription drugs. If Mrs. Lyons enrolls in an MSA plan and needs prescription drug coverage, she’ll need to join a Medicare Prescription Drug Plan (Part D). This is an important piece of information for Mrs. Lyons to consider since she uses a single prescription.
