health matching account

What is a Health Matching Account and Why You Should Consider One

By Robert Health Insurance

With the cost of healthcare constantly increasing, the Health Matching Account (HMA®) may be your best buffer in protecting yourself against any unexpected medical expenses that aren’t covered by health insurance or Medicare. 

In addition to covering the vast majority of your necessary, out-of-pocket expenses for your health insurance or Medicare, the HMA® provides you with more freedom and medical purchasing power than any other medical savings account.

Health Matching Account 101 

So, what exactly is an HMA®, and why could it benefit you? The HMA® is a medical savings account that feels similar to a Health Savings Account (HSA) in that you can access its benefits on a debit card. However, that’s where the similarities end. Unlike an HSA, the growth of your HMA® is guaranteed and substantial. HMA® owners have access to an average of $2 or more in medical benefits for every $1 that they contribute to the program every month as the program progresses. You can also continue to contribute to it after you reach age 65.

HMA Can Help You Afford Medical Services 

With the HMA®, you gain the freedom to opt for other medical services that you might not have been able to afford before, including any experimental and elective medical procedures such as LASIK, plastic surgery, and many others performed by licensed medical doctors.

With its rich benefits that increase for you every month, the HMA® can provide you with the safety net you will need to save money on the vast majority of your out-of-pocket medical expenses that your health insurance or Medicare requires.

In addition, the HMA® can also provide you with the ability to increase your major-medical deductibles safely. Even better, this will secure additional savings over time on your actual health insurance premiums without taking on the added risk because your HMA® will have you covered every step.

What Does an HMA® Cover?

There are many procedures covered through an HMA®. Elective procedures are just some things you can use the money for. 

  • Elective procedures (LASIK, plastic surgery, etc., with MD surgeons only)
  • Monthly payments for direct primary care and concierge medical services (mail-in reimbursement only)
  • Chiropractors (mail-in reimbursement only, limited to two services per month per account)
  • Ambulance services (ground only)
  • Laboratory/medical/dental/ophthalmic hospital equipment and supplies
  • Dentists and orthodontists
  • Osteopathic physicians
  • Optometrists and ophthalmologists
  • Opticians, optical goods, and eyeglasses
  • Chiropodists and podiatrists
  • Hospitals
  • Medical and dental laboratories
  • Drug stores, pharmacies (no sundries/mail-in reimbursement only on grocery store pharmacy purchases)
  • Hearing aid – sales, service, supply stores
  • Orthopedic goods – prosthetic devices
  • Counseling service – performed by PsyD or PhD

What are Non-Covered Services?

Suppose a primary account holder or dependent uses their HMA® account unauthorizedly for non-covered services. In that case, the primary will be required to reimburse HMA® services in full for all funds paid out for such unauthorized use.

You must be aware of what isn’t covered. 

  • Drugs, alcohol, or any rehabilitation facilities
  • Over-the-counter medicine, including non-Rx prescriptions
  • Non-prescription purchases at pharmacies
  • Payments to medical collection agencies and any provider asking for payments past 30 days of the date of service or 90 days for a hospital service
  • Healthcare financial consultants
  • Massage therapy
  • Acupuncture
  • Naturopathic medicine
  • Supplements and non-prescription vitamins
  • Elective procedures not performed by an MD
  • The HMA® only covers medical expenses that are incurred directly or through prescriptions from Medical Doctors (MD), Doctors of Osteopathy (DO), Dentists (DDS or DMD),
  • Optometrists (OD), Podiatrists (DPM), or hospitals and clinics
  • Annual, semi-annual, or quarterly membership fee payments for Direct Primary Care or Concierge Medical Services
  • Covid tests, whether prescribed or not prescribed by an MD
  • Cosmetic or other elective procedures not performed by Medical Doctors (MD), Doctors of Osteopathy (DO), Doctors of Psychology, Dentist (DDS or DMD), Optometrists (OD), Podiatrists (DPM)
  • Payment plans set up for outstanding past, present, or future medical bills

Scaling Up And Scaling Down To Different Plans

Because an HMA® offers monthly contribution plans, a member cannot move down their plan during the first 24 months of becoming a member, so we must find the best plan for you.

However, HMA® primary account holders can scale up to a higher HMA® contribution level at any time. Check out this brochure for an example of how an HMA® works and the different levels available. 

Interested in a Health Matching Account? 

Many more benefits come with signing up for a Health Matching Account. I would happily sit down with you, review your options, and find the best plan for you. My clients must find the most agreeable solutions for their medical needs, and an HMA® can be the perfect solution. Contact me at 912-660-5236 or online to learn more.

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