This Health Matching Plan works as a vanishing health care deductible plan because the account balance grows so rapidly that it can quickly fill-in and pay for any individual or family deductible. It is a voluntary, medical benefit savings account owned by the participating employee or family. The Medical Benefits Account pays for out-of-pocket, medical expenses including copays and deductibles, much like an HSA except with much larger account growth capabilities. In addition, this Medical Benefits Account also covers elective procedures including plastic surgery, lasik and fertility as well as long-term care and home health expenses among many others.
Call Representative Joy Porter to receive full brochure and details: 423-202-8594
This is a non-qualified account with a defined, monthly contribution that is funded by the participant with post-tax dollars. The Medical Benefits Account pre-funds an individual’s (or family’s) medical costs into a medical savings account that is awarded medical benefit crediting, which grows each month following the monthly, participant contribution. Account holders will receive up to $2 or more in benefits for every $1 that they contribute into their account as the program progresses.
The benefits that build in the account balance are designed to pay for out-of-pocket medical costs including copays and deductibles as well as elective procedures. It can also enable participants to transition into high deductible, major-medical plans in order to save even more money on their monthly health insurance premiums. The participant’s account balance crediting is designed to increase each and every month as the medical benefit crediting awarded to the monthly contribution continues to build. Participant account balances do carry over annually.
By opting for a Medical Benefits Account, individuals and families now have the opportunity to fund a superior, medical savings account. It creates additional health care savings for individuals and families by covering a larger portion of their out-of-pocket, medical costs and elective procedures than any other medical savings account available
