While Lasso Healthcare MSA policyholders do have the help of an annually funded deposit, many start to wonder... how much do medical services actually cost? How fast will my clients blow through their deposit?
The good news is that there's really nothing to worry about, but these four real-life EOB examples will do a better job of explaining why. Our first example showcases a $1,175 hospital bill – here's how much a Lasso MSA policyholder actually paid.
$1,174 of Hospital Charges – How Much Will Lasso Clients Pay?
A real-life Lasso Healthcare policyholder received a hospital service that retailed at $1,174.00.
However, that's not what they're going to pay. Even though Medicare doesn't pay their typical 80%, MSA policyholders still get to take advantage of the Medicare-approved rates.
That's right – Lasso MSA policyholders are never going to pay full retail price for medical items or services. Bad news for doctors; great news for consumers.
So, about that $1,174 hospital charge. The amount the Lasso policyholder owed was $58.48.
That is a 95% discount!
A $664.44 Medical Bill – How Much Will Lasso Clients Pay?
Here's another example from a Lasso Healthcare MSA policyholder. The total submitted charges were $664.44.
After the retail price was adjusted to match the Medicare-approved rates, that client was responsible for $183.44.
That's a 72% discount!
$351.28 Therapy Bill – How Much Will Lasso Clients Pay?
This claims example has the detailed list of what the medical charges were. In this EOB, we can see that the policyholder has some therapy services done. The provider's retail charges equaled a total of $351.28.
After the rates were adjusted to the Medicare-approved amounts, the total responsibility of the client is $105.24.
That's a 70% discount!
Here's another EOB from that same client for some more therapeutic procedures that retailed at $213.26.
After the bill was sent to Lasso and re-priced to the Medicare-approved rates, her responsibility was $58.17. That's a 73% discount!
Will Lasso MSA Policyholders Go Through Their Deposits?
As you can see from these four EOB examples, basic medical items and services aren't going to be big ticket items for your Lasso Healthcare MSA clients.
For the 2021 plan year, clients can choose between Growth MSA ($2,000 deposit, $5,000 deductible) or Growth Plus MSA ($3,000 deposit, $8,000 deductible). The bills above would not have any kind of major impact on your client's deductible.
In fact, 81% of 2019 members spent less than $1,000 of their deposit amount through August 2019!
While an inpatient hospital stay is probably going to expose a policyholder to their Member Responsibility, basic medical services throughout the year probably won't.
We hope these real life Explanation of Benefit (EOB) examples have helped you become more comfortable with the Lasso Healthcare MSA.
Disclaimers: It is not advised to use any percentages when communicating with clients. For example, do not say that all medical bills will be discounted 75% with an MSA. As you can see from the examples above, the final discount varies from CPT code to CPT code. For Agent Use Only