WellPoint To Offer Medicare Advantage Plans With Medical Savings Accounts

California-based WellPoint beginning Nov. 15 will offer Medicare medical savings accounts in several states, Dow Jones reports (Edwards, Dow Jones, 10/31). CMS in July announced a demonstration project to allow private insurers to offer beneficiaries Medicare Advantage plans with MSAs, which function similarly to health savings accounts. CMS said insurers participating in the demonstration project could offer modified MSAs that would have lower annual contributions and more spending restrictions than typical private-sector HSAs, which are not permitted under Medicare law. MSAs have been allowed in Medicare for about 10 years, but the products have never been offered to beneficiaries (Kaiser Daily Health Policy Report, 7/13). The WellPoint plans will include a high deductible MA plan coupled with a tax-advantaged MSA. According to a WellPoint release, the plans are part of an "initiative to make consumer-driven health plans available in all states and to all markets, from the largest employer to individual members" (WellPoint release, 10/31).