[Verified Answer]: Not yet answered Mr

Question 50 Not yet answered Mr. Mullen has heard about a Medical Savings Account (MSA) but wants to know if it is just about saving money, or if he will get insurance coverage for his health care expenditures as well. What should you tell him? Question 50Answer a. Under the Medicare Advantage program, an MSA plan involves the combination of a high-deductible health plan and a savings account for health expenses. Medicare will make contributions to this savings account to help him pay his health care expenses while in the deductible. b. Under the Medicare Advantage program, the MSA is only an account to help him pay for IRS-allowed health expenditures he may have. It does not involve health insurance of any kind. c. Under the Medicare Advantage program, the MSA plan is a form of prescription drug coverage. d. Under the Medicare Advantage program, the MSA is funded by money he sets aside each year. If he does not use it all on IRS allowable health care expenditures then he will lose the money the following year.