1 | Who is Health Matching Account Services?
Health Matching Account Services, Inc. (HMAS®) is based in Houston, Texas and is the exclusive provider of Health Matching Account products consisting of the HMRA® program for employers and the HMA® for individuals and families. Both the HMA® and HMRA® programs are medical savings plans and reimbursement programs that award increasing, monthly, medical benefits to assist both employers and employees in bringing down their first-dollar, out-of-pocket, medical costs. HMAS® is a privately-managed, financial services company who is committed to bringing down the cost of health care in the group and individual markets.
HMAS® has formed partnerships with some of the largest brokers and benefit agencies across the country to promote its revolutionary, HMA® and HMRA® programs for employers, individuals and families. The directors and founders bring over a century of experience in the life and health services industry. The founders are former owners of one of the largest independent companies in the southwest United States.
2 | How does HMAS® award the matched amount of HMA® monthly medical benefits and how are the medical benefits protected?
This medical savings account product was designed for implementation by one of the most renowned life and health services actuarial firms in the world today. Health Matching Accounts utilize cash reserves and claims frequency analysis to determine the rate of growth on contributions that can be awarded monthly into member account balances. The Health Matching Account Services claims exposure is capped at each participant’s account balance, and these balances can be used to pay for most qualified, 213 (d) and approved, elective medical expenses up to the HMA® account balance at the time of the claim. HMA® accounts can be used to pay for medical expenses and contain no cash value. The HMA® is not insurance and stop loss is not necessary because the HMA® does not spread risk. The HMA® Medical Reimbursement Visa® Prepaid Card is issued pursuant to a license from Visa® USA Inc. In addition, Health Matching Account Services is proud to have tens of thousands of members in our patented and trademarked product with a 91% retention rate because of our loyal and satisfied customers.
3 | Does the HMA® program require participants to purchase a high deductible health insurance plan?
No. Unlike a traditional Health Savings Account (HSA), the HMA® is not required to be complemented by a high deductible health plan (HDHP). In fact, the medical benefits that build in a HMA® plan can provide the vehicle to help allow individuals and families the ability to ease their way into high deductible health plans in order to lower their fixed, monthly premium costs. This is due to the fact that the HMA® will be covering a larger portion of the owner’s out-of-pocket, medical expenses. Although the individual or family may choose to have a HDHP, it is not required.
4 | What happens when the HMA® reaches its target medical benefit cap?
Once the HMA® individual or family plan reaches its predetermined, target medical benefit cap, the participant is no longer required to make their full, monthly HMA® contribution and only maintenance fees are required until another reimbursement is made that uses the HMA® as payment.
5 | What if HMA® owners want to change their contribution amount or paid-up target medical benefit balance?
HMA® contribution levels are designed to be flexible in order to accommodate anyone seeking to build their own medical savings plan and significantly reduce their health care expense obligations by pre-funding their out-of-pocket, health care costs through the HMA® program. Health Matching Account Services offers a variety of different levels of HMA® contribution plans with corresponding medical benefit target caps ranging from $2,500 all the way up to $60,000 per participant or family.
The HMA® program provides participants with the ability to adjust both their monthly contribution amounts and target caps in order to scale up their HMA® benefits as they see fit. This means that If the HMA® participant wishes to increase their monthly contribution level and its corresponding, target medical benefit cap, they will be permitted to do so one time per month.
6 | If the Employer is contributing to an employee’s HMA® account, is the HMA® owned by the employee?
Yes, and the HMA® would be portable in this situation as well as if the individual employee was sponsoring it on their own.
7 | How do I access my HMA® benefits to pay for medical expenses?
Each HMA® owner, whether it be a family or individual, will always be provided with their own personalized HMA® Medical Reimbursement Visa® Prepaid Card, which can be used and swiped at the point of service to pay for qualifying medical expenses including MD elective procedures. For any other HMA® qualifying medical expenses that cannot be processed by swiping the HMA® Medical Reimbursement Visa® Prepaid Card, these expenses will be covered on a reimbursement basis by completing and submitting our simple online reimbursement form along with your itemized paid receipts conveniently located in your HMA® member portal and mobile app within 30 days of the procedure.
8 | What medical expenses can be covered with my HMA® Medical Reimbursement Visa® Prepaid Card?
The HMA® Medical Reimbursement Visa® Prepaid Card covers most 213 (d) medical expenses by swiping your card at the point-of-service. These expenses include pharmacy and drug store purchases as well as doctor and hospital visits, dental, vision and chiropractic (subject to limitations) among others. In addition, your HMA® plan can also be used to pay for elective procedures (with MD surgeons only) such as plastic surgery, lasik and fertility procedures. Click here to view the HMA® List of Covered Services.
9 | What services are not eligible to be paid for or reimbursed with the HMA®?
- Drugs, Alcohol Or Any Rehabilitation Facilities
- Over The Counter Medicine Including Non-Rx Prescriptions
- Non-prescription Purchases At Pharmacies
- Payments To Medical Collection Agencies And Any Provider Asking For Payments Past 30 Days Of The Date Of Service Or 90 Days For A Hospital Service
- Health Care Financial Consultants
- Massage Therapy
- Naturopathic Medicine
- Elective Procedures Not Performed By An MD
- Annual Memberships For Dental Expenses Or Primary Care
- Annual, Semi-annual Or Quarterly Membership Fee Payments For Direct Primary Care Or Concierge Medical Services
- Cosmetic Or Other Elective Procedures Not Performed By Medical Doctors (MD), Doctor Of Osteopathy (DO), Doctors Of Psychology, Dentist (DDS Or DMD), Optometrists (OD), Podiatrists (DPM)
- The HMA® Will Not Cover And Reimburse Any Payment Plans Set Up For Any Outstanding Past, Present Or Future MD, Dental Or Hospital Bills
The HMA® is not health insurance.
The HMA® Medical Reimbursement Visa® Prepaid Commercial Credit Cards are issued by Celtic Bank.