Sehc,
I have read the fine print and you are continuing to spread false information. I suggest you get in touch with a Lasso rep or other provider to read ALL of the fine print and make an informed decision. Here is some fine print you may have overlooked:
Members can spend, save and/or invest their MSA funds.
MSA funds can be used for any expense, medical or otherwise, but there are special rules on what expenses
count toward the plan deductible and how they’re taxed. Qualified Medical Expenses (QMEs) are defined by
the IRS or Internal Revenue Service. All Medicare A/B expenses are QMEs, but not all QMEs are Medicare
A/B expenses. Therefore, not all QMEs count toward the health plan deductible, even though MSA funds
spent on any QMEs is tax-free. See IRS publication 502 for a complete list of expenses deemed as QMEs.
MSA funds are not “use it or lose it.”
Generally speaking, once deposited, MSA funds belong to the member. Remain in the plan until the end of the calendar year
As long as the member stays in the plan until December 31, any unused funds from the current year’s
deposit amount belong to the member and roll over to the next year. If the member then renews with
Lasso Healthcare, the new year’s deposit amount is added to their account in early January; this is one way
members can grow their money over time.
If the member stayed in the plan through December 31, but does not renew with Lasso Healthcare, all MSA
funds in the account belong to and are retained by the member. They can keep the funds in their Optum
Bank account, subject to a monthly maintenance fee, or can move the funds to a custodian of their choice,
subject to a transfer fee. Contact Optum Bank for current fee amounts. Leave the plan during the calendar year
If a member leaves during the calendar year, they owe a portion of that year’s deposit back to Lasso
Healthcare, regardless if they have the funds in their savings account or not. The member retains any
unused funds accumulated from previous years, and has the same option to keep the funds in their Optum
Bank account with a monthly maintenance fee or move funds to a bank of their choice with a transfer fee.