How Medical Savings Accounts Work

Working in conjunction with a major medical plan, the Medical Savings Account provides comprehensive coverage. Money is deposited into a personal Medical Savings Account which you can spend on medical expenses throughout the year.

You use the money in the MSA account to pay for minor and routine medical expenses - including expenses normally not covered by other group health insurance, such as dental, vision, mental health and chiropractic.

You are rewarded for purchasing medical care wisely. Any money left in your MSA account at year's end is yours to keep.

Medical Savings Accounts put you back in control of your health care - and you reap the rewards.

With HMOs closing in, we are all on the verge of losing our freedom of choice for medical care. But there's something new on the horizon - a bold new alternative that preserves patient choice and puts us back in control of our own health care.

Medical Savings Accounts (MSAs) give control back to you - the way it should be. With MSAs you decide which doctor to visit. You are free to seek the care you need, and you have the money to pay for it.

You may use your Medical Savings Account to pay for expenses that are not covered under your current health benefit plan: like dental, vision, mental health, chiropractic, acupuncture and other health care as defined by the IRS. MSAs also pay first-dollar benefits, reducing your out-of-pocket medical expenses.

MSAs empower you to make decisions that reflect your own best interests. Personal decisions - like whether to get a second opinion - are best made by individuals, not by a bureaucrat. MSAs involve you in your own health care delivery, and in turn provide long-term satisfaction for your family.

And another big difference: Those with MSAs who shop wisely and control health care spending are rewarded with year-end cash refunds. Do you know of any other insurance plan that gives you money back?