NEW Medical Savings Account Plan for Medicare!
** If you have questions about this plan please email them to Kyle directly rather than calling the insurance company. He will be able to answer all of your questions as well as tell you how this plan works relative to the RV lifestyle! Email Kyle by clicking here. **
Can Be Used at ANY Doctor or Hospital That Accepts Medicare in ALL 50 States!
If you have read my Medicare for RVers page then you know that I usually do not recommend Medicare Advantage plans for fulltime RVers because of the network restrictions associated with these plans. Instead I usually recommend Medicare Supplement insurance plans, also know as Medigap insurance for fulltime RVers as they provide excellent nationwide coverage with little to no out of pocket expenses to the insured other than your monthly plan premium.
However, there is one exception to this: Medical Savings Account (MSA) plans for Medicare enrollees. Although this is a Medicare Advantage (MA) plan (Also called Medicare Part C) it does not have the same network restrictions that is typical of MA plans. In fact, the one I am recommending allows you to see any doctor or hospital that accepts Medicare. Until now these plans have not been available. Starting October 15, 2018 we will have one available for January 1, 2019 effective dates.
There are NO NETWORKS to worry about with this plan so you are free to receive care wherever you want to nationwide. As long as the provider participates with Medicare then you are always considered covered! If a medical provider accepts Medicare then they are required to accept this plan (all members will receive a letter to present in the event a provider claims to not accept this plan).
What is a Medical Savings Account plan?
MSA plans are composed of two parts:
- A high-deductible Medicare Advantage plan
- A trust or custodial savings account (similar to a Health Savings Account for individual health insurance)
The MSA plan has two key factors:
- The DEPOSIT Funds (provided by Medicare, not you!): Every January the plan will deposit a certain amount into your MSA account. These funds can be used for *qualified medical expenses right away. This amount accumulates each year less the amount you use. All unused funds in your MSA account roll-over year after year! Even if you leave the plan after the first year (or any year thereafter), any funds remaining in the account are yours to use tax-free on qualified medical expenses. Each member is given a debit account card that can be used immediately to pay for qualified medical expenses up to your MSA account balance.
- The High Deductible Health Plan: The premium for this plan is $0. The health plan will pay 100% of your Medicare-covered services once you reach the deductible. You will pay for all Medicare-covered services until you reach the deductible. You can use the deposit money to help you reach your deductible.
The plan’s monthly premium is $0! You continue to pay your Medicare Part B deduction from social security but there is no additional premium to be enrolled in this plan!
Who can join this MSA plan?
Applicants must meet all of the following criteria:
- Live in the MSA service area (RVers must hold residency in one of these states: TX,SD,AZ,UT,OK,MO,AR,IL,IN,ND,SD,MT,WY,MD,DE,PA,NC)
- Reside in the USA for 183 days+ per year
- Do not have other coverage that would cover MSA plan deductible, including benefits from employer, TRICARE, or the VA.
- Not eligible for Medicaid
- Do not currently receive Medicare HOSPICE benfits
- Do not have end-stage renal disease. There is no other medical underwriting associated with this plan so you can not be turned down for any health reasons (except for end-stage renal disease)!
If you are under age 65 and eligible for Medicare due to a disability then you are still eligible for this plan!
What can I combine with this plan?
- Prescription Drug Plan (Part D PDP)
- Dental, Vision and Hearing
- Cancer, Heart Attack and Stroke plans
- Hospital Indemnity Plan
Who is this plan right for?
Even though I still think Medicare Supplement plans are a better fit for most RVers, I would suggest that this MSA plan is ideal for anyone on Medicare who meets any of these scenarios:
- you want to maximize monthly cash flow by having a $0 premium plan and has some savings in case they need to meet their deductible before their MSA account has enough funds
- you are living or traveling in rural areas where other Medicare Advantage plans don’t have providers
- you travel throughout the country extensively (i.e. RVer) away from your “home base”
- you are healthy or has a chronic health condition that makes qualifying for a Medicare Supplement plan difficult
- you are under age 65 and is eligible for Medicare due to a disability
- you have a Health Savings Account with funds in it that you are bringing into Medicare with you
These are just a few my suggestions and are not requirements to qualify. I think this plan will suit a lot of full-time RVers with varying needs nicely!
Want more information?