Brian Boss

3 minutes ago, Sehc said:

You are quite the salesman. I don't believe the funds from the government are anything else than the money from the SS benefit payment. I don't believe those funds can be spent on anything other than the health expenses not covered by the high deductible policy. Those funds are not returned to the victim.

Sehc,

I don't sell these plans, nor any Over 65 Medicare products. I do, however, know how to read & understand fine print...and am quite adept at identifying pettifoggers..

18 hours ago, Sehc said:

I think you should go back and read the fine print. The money in the 'account' can be only used for medical expenses. It is the insurance company's money. Not the insured. It is the medicare premium paid by the insured. If changing from the plan, the money goes to the company. Not the insured. It is really spend it or lose it.

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.

34 minutes ago, Sehc said:

Those numbers are your monthly premium paid to Medicare. 

Hi Sehc,

No, the $3240 is deposited each year into your MSA account, and is yours to keep - not 'use it/lose it.' These are Medicare Advantage plans (MA):

Premium
By law, MSA plan premium is $0. As with all MA plans, the member must continue paying their Medicare
Part B premium.
Coverage
All additional Medicare A/B services are covered 100% after the member reaches the plan deductible.

Granted, these plans are not for everyone and you should be fairly healthy and/or able to self-insure a big deductible. But, you may still change plans each year if you wish at AEP.

Hi Blues, 

Again, I'm not the Medicare expert but was provided the below by my friend and colleague Greg at the 'Medicare Caddy' outfit - www.medicarecaddy.com. It looks like the rules for 2020 have changed, and more states are in play for this - I think up to 27. Lasso Healthcare will be administering.

The Trust/Custodial Savings Account

Administered by Optum Bank, but the member makes all the decisions. Let’s cover the trust/custodial savings account portion first. Lasso Healthcare has partnered with Optum Bank, a market leader in health savings and spending accounts. When enrolling, the applicant will apply to open the savings account in addition to enrollment in the health plan; both our electronic and paper
enrollment kits contain both enrollment materials for ease.
Once CMS sends us the member funds and the member’s savings account is established, Lasso Healthcare will deposit the funds early in the member’s effective coverage period. The deposit amount is the same for every plan design/region. The deposit amount is prorated based on when coverage begins, and is prorated the same amount as the deductible. The monthly prorated amount is $210 for 2019 and $270 for 2020. The table below shows the number of prorated months to be applied, based on the effective month:
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
0 mos. 1 mo. 2 mos. 3 mos. 4 mos. 5 mos. 6 mos. 7 mos. 8 mos. 9 mos. 10 mos. 11 mos.
$3,240 - ($270 x 0 mos.) = $3,240 deposit (Jan 1 enrollment)
$3,240 - ($270 x 7 mos) = $1,350 deposit (Aug 1 enrollment)

Hi Kirk, here's a link from my colleague here in Atlanta who advised me on this - https://www.pbs.org/newshour/economy/making-sense/column-why-these-unique-medicare-advantage-plans-are-poised-for-popularity

Again, I'm not the Medicare expert...under 65 is my niche. But happy to put you in touch with him if you need add'l info. These plans aren't for everyone, but if healthy appears to make alot of sense.

Happy Labor Day!

Not a Medicare expert but agree have heard about the changes below and Plan G will hit alot of folks the best coming up. Also, if you had a previous HSA, the new MSA rules will apply after age 65 and the gov't will drop $3200 into your acct each yr. Not available in all states yet though..