Alternative to MedSupp & MedAdvantage being marketed, anyone heard of this?

[yorkriver1]

The marketing is kind of vague. It sounds like some sort of expense fund that rolls over year on year.
I may have to ask that age old question: "Is this insurance?" Meaning, is it subject to insurance laws, solvency and claims reserve requirements.
If not, caveat emptor as far as I know.

 

[mickeyma]

HSA? Health Savings Account. If it is, yes that is an insurance plan.

 

[Ferman]

If it is an HMA it is not.

 

[Todd King]

The marketing is kind of vague. It sounds like some sort of expense fund that rolls over year on year.
I may have to ask that age old question: "Is this insurance?" Meaning, is it subject to insurance laws, solvency and claims reserve requirements.
If not, caveat emptor as far as I know.

Sounds like a Medicare Saving Account (MSA) like Lasso.

 

[somarco]

If it is an HMA it is not.

What is an HMA?

HSA is not insurance either.

 

[goillini52]

The marketing is kind of vague. It sounds like some sort of expense fund that rolls over year on year.
I may have to ask that age old question: "Is this insurance?" Meaning, is it subject to insurance laws, solvency and claims reserve requirements.
If not, caveat emptor as far as I know.

Is it called Lasso?

 

[yorkriver1]

I am going to listen to their description tomorrow, and there is a website. It sounds kind of like a sharing plan but where the indemnity is limited to, say, $10,000, and builds over about 4 years through decreasing deposits, ending in a small monthly fee to maintain. I wouldn't sell a product that has no E&O available. People can make their own choices about these matters. One issue to clear up, how would they avoid adverse selection. The sharing plans have rules to exclude or partially exclude pre-ex, I believe.
Todd, I couldn't find anything online about Lasso or HMA.

 

[Northeast Agent]

I'm appointed to offer the Lasso MSA. Googled it, and this popped right up:

Lasso Healthcare

 

[yorkriver1]

I taught pre-licencing classes for 12 years, and never did see the details of how MSA's work, and no plan detail was required for passing the exam, just that they were a Medicare plan with a savings feature similar to HSA's.
It could be an appealing option for those who appreciate HSA's, or could learn to. There are no MSA's here in my state. Very interesting and the base is actual insurance. The plan being promoted to me seems different, as in "not insurance" and I will know tomorrow after their presentation.

 

[LostDollar]

Here is a thread with some info about Lasso.

https://insurance-forums.com/community/threads/how-is-the-lasso-msa-doing.96982/

It includes a link to a video about it.

(Important to remember it is in the category of Medicare Advantage plans)