As you near the age of 65, you may find yourself concerned about the cost of healthcare and how to best prepare for your medical needs. If you are on a fixed income, you may be worried about how to afford your healthcare expenses. Fortunately, Medicare Savings (MSA) Plans may be able to help.
MSA Plans are a type of Medicare Advantage plan that provides a high-deductible health plan and a medical savings account (MSA). The MSA is funded by Medicare and can be used to pay for healthcare expenses until the high deductible is met. Once the deductible is met, the plan covers all of the Medicare-covered expenses for the rest of the year.