Are you seeing the Medicare Lasso Plan for the first time? Whether you have just heard about it through the grapevine or you see this unique MSA come up on Medicare’s Plan Finder, you have come to the right place. Lasso Healthcare’s Medical Savings Account (MSA) is one of the most popular Medicare Medical Savings Account available right now. Lasso Healthcare’s MSA has 85 percent year over year retention – no wonder the Medicare product is becoming increasingly more popular.
What Is a Medicare Lasso Plan?
A Medicare Lasso Plan is a Medicare Advantage plan that offers a Medicare Medical Savings Account (MSA) to beneficiaries looking for a flexible approach to Medicare expenses. Medicare Lasso is a high-deductible Medicare Advantage plan that is matched with a specialized savings account that you can use to pay for certain Medicare-approved expenses such as hospital stays, coinsurance, and copays. Those who have Original Medicare and are already paying the Medicare Part B monthly premium are eligible for a $0 premium Medicare Advantage plan with the Medical Savings Account.
How Medicare Lasso Plan Works
Lasso Health offers two plan options with carrying deductibles in 2021:
- Growth MSA: $2,000 deposit (with a $5,000 deductible) and,
- Growth Plus MSA: $3,000 deposit (with an $8,000 deductible)
These coverages change every year, so it is important to check the current summary of benefits to verify the available benefits.
A Lasso Healthcare’s Medical Savings Account plan member will get a deposit in January to their medical savings account at a dedicated bank. You can use the funds you receive to cover out-of-pocket expenses until you meet the deductible. In the case the Medical Savings Account deposits are unused, they can be rolled over each year.
Who Is a Better Fit for Medicare Lasso Plan?
Records over the years have shown that vast amounts of seniors have benefited from MSA Plans more financially than other Medicare options. Here are a group of Medicare beneficiaries that are a perfect fit for the Medicare Lasso Plan:
- People new to Medicare
- Those that are healthy and have no major medical concerns
- Those dealing with expensive Medigap premiums and can’t switch providers due to poor health
Medicare Lasso Plan Network
While the Medicare Lasso Plan is branded as a Medicare Advantage product, it has no networks, which means you can see any physician or doctor as long as they accept Medicare. The problem with most Medicare Advantage plans is that they run a tight network, so the people that travel a lot would be outside of the plan’s network and wouldn’t be covered. With Lasso Healthcare’s MSA, that is not a problem.
Want to learn more about Medicare Lasso Plans in your area? Contact Cornerstone Senior Advisors. Our experienced Medicare experts can help you compare costs and coverage.