There are numerous and sometimes very hard to understand additional, out-of-pocket, costs associated with your health insurance that you will be forced to pay aside from your monthly premiums. These include not only paying for your deductibles but also coinsurance, copays and annual, out-of-pocket maximums associated with your plan.
The Health Matching Account (HMA®) is the best, medical savings account option for you to turn to in order to lower all of these out-of-pocket obligations because of its significant, account crediting guarantees and features that will credit your account up to $2 or more for every $1 that you contribute into your account.
Comparing Your Out-Of-Pocket Medical Expenses With And Without The HMA®
Let’s analyze all of the additional, out-of-pocket costs (not including premiums) associated with a sample, high deductible health plan and the potential savings that putting a Health Matching Account in place can provide. After the deductible is reached, the insured is still on the hook for paying 40% of all medical expenses up to the out-of-pocket maximum ($6,500 for individuals).
The chart below demonstrates how much potential savings can be secured for an individual opting for the HMA® 7500 plan by taking advantage of the unparalleled HMA® account crediting. For monthly contributions of $113.50 the HMA® 7500 account balance will grow to $7,500 over 35 months and only cost you $3,972.
Sample HMA® High Deductible Health Insurance Plan Assumptions:
- $113.50 HMA® 7500 monthly contribution
- $6,500 Medical Claim Cost occurs following 35 months of HMA® 7500 contributions
(no prior medical costs paid for) - Sample HMA® 7500 monthly maintenance fees included
- Health Insurance Deductible: $6,000 Major Medical/ $500 Rx
- Health Insurance Out-Of-Pocket Max: $6,500 (Individual)
- Health Insurance Cost-Sharing Split: 60/40 After Deductible is Met
**Illustration scenario assumes no claims filed until HMA® account balance reaches its target cap. No prior claims were made from the account. Sample maintenance fees included.
*https://us.milliman.com/uploadedFiles/insight/Periodicals/mmi/2017-milliman-medical-index.pdf
The HMA® is not Health Insurance.
The HMA® Medical Claims Visa® Prepaid Card is issued by The Bancorp Bank pursuant to a license from the Visa®
U.S.A Inc. The Bancorp Bank; Member FDIC. Card may not be used everywhere Visa® debit cards are accepted.
See Cardholder Agreement for list of eligible goods, services and merchants.
