Frequently Asked Questions (FAQs) About the Lasso Healthcare Group MSA

Lasso Healthcare Group MSA FAQs
March 2, 2020

For agent use only, not for use by the general public.

The Lasso Healthcare Group MSA started accepting enrollments beginning January 1, 2020. As we all become more familiar with this product, we've compiled some frequently asked questions (FAQs).

If you have additional questions, please leave them in the comment section below and we will address them and add them to this list.

Jump ahead if you wish:

Independent Agent-Specific Details

Q: Do I need a new Agent ID for the Lasso Healthcare Group MSA if I already have one for the individual MSA?

A: No, you do not need a new Agent ID. Your NPN is used for all Lasso Healthcare business.

Q: Do I need any special certifications or licenses to sell the Lasso Healthcare Group MSA?

A: If you are currently appointed to sell Lasso Healthcare MSA (individual) in any of the current individual MSA states, you are certified to sell the group MSA in all 50 states plus D.C. Please review the Lasso Healthcare Group MSA Sales Presentation for plan details.

(You can download the sales presentation at the bottom of the Group MSA page, but note that you must be signed in to view it.)

Q: I primarily sell Medicare Supplements and Medicare Advantage – should I be paying attention to this product?

A: Absolutely! The group MSA is not just for large employers, and chances are, you know of local employers or associations who could benefit from the group MSA product.

Q: Is the Lasso Healthcare Group MSA available in my state?

A: The Lasso Healthcare Group MSA is available in all 50 states plus D.C.

Q: Is there a separate spot on the Lasso Healthcare website that has the group information?

A: Not currently. However, Lasso Healthcare is planning to add group MSA information to its site in the near future. In the meantime, contact us for further information.

Q: Is there an e-application?

A: Enrollment is currently handled via census or paper application, with electronic application coming soon.

Q: What's the commission on the Lasso Healthcare Group MSA?

A: The commission structure is $40 pmpm for new to Medicare Advantage, and $20 pmpm for MA renewals. Both are paid as earned.

Lasso Healthcare Group MSA General Questions

Q: Is the Lasso Healthcare Group MSA for any age range?

A: The Lasso Healthcare Group MSA is for any sized employer group or association with Medicare-eligible populations, such as under 65 Medicare-eligible due to disability, working adults age 65 and up, and/or covered retirees. The eligibility requirements for group MSA members are the same as the individual MSA.

Q: Is there a minimum number of employees to be eligible for the Lasso Healthcare Group MSA?

A: No – the Lasso Healthcare Group MSA works for employers and associations with any size employee base.

Q: Does the Lasso Healthcare Group MSA cover the employee/retiree only, or does it also offer coverage for dependents or spouses?

A: Spouses and dependents can be covered, provided they are Medicare-eligible and meet the eligibility requirements for the individual MSA product.

Q: Is the money given to the group MSA member use it or lose it?

A: No – just like the individual MSA or an HSA, the group MSA funds are the enrollees to spend, save, or invest. Any funds left over at the end of the year simply roll over to the next year, provided the member is still enrolled at the end of the coverage period.

Q: What's the network for the Lasso Healthcare Group MSA?

A: The Lasso Healthcare Group MSA has no plan network and functions just like Original Medicare: members can see any Medicare-participating provider they choose.

Q: What happens if an enrollee covered under the Lasso Healthcare Group MSA as an active 65+ employee retires mid-year?

A: Please encourage all group clients covering their active 65+ employees to extend their group MSA coverage to their retirees! Groups offering coverage to both provide the best continuity, as the new retiree continues under the same group MSA plan design they enjoyed as an active 65+ employee.

For groups not offering retiree coverage, new retirees will have a Special Enrollment Period (SEP), where they have guarantee issue into any Medicare Supplement or eligible Medicare Advantage plan in their service area. Remember, enrollment in an individual MSA product is only allowed during Annual Election Period and only in authorized jurisdictions; SEPs are not eligible enrollment periods for the individual MSA.

Lasso Healthcare Group MSA Plan Benefits

Q: How does the Lasso Healthcare Group MSA work for an employer group or association with eligibles in multiple states?

A: Unlike the individual MSA, where plan design varies by state/county, members in the group MSA will be enrolled in the one plan design selected and set by the group/association; the plan design for group MSA members does not vary by state/county.

Q: Does the Lasso Healthcare Group MSA cover prescription drugs?

A: Just like the individual MSA, the group MSA does not include prescription drug coverage. We see this as a positive, because the member has the flexibility to choose the Medicare Part D drug plan that best covers their prescriptions.

Pro tip: the group MSA can be combined with HRA (health reimbursement account) options that can set aside monies for Part B and Part D premiums along with the ability to pay for medical and pharmacy expenses… all in a tax-favored manner.

Q: Is vision or dental care included in the Lasso Healthcare Group MSA?

A: No, however the MSA deposit can be used to pay for vision or dental expenses. In addition, the member could choose to purchase a separate DVH policy if they desire. However, they cannot use the MSA deposit to pay for the DVH premium.

Lasso Healthcare Group MSA Enrollment Details

Q: When can the Lasso Healthcare Group MSA be started?

A: Groups can enter at any time of the year, but will have an Annual Election Period from November 1-15; this period can be customized upon request.

Q: When can members leave the Lasso Healthcare Group MSA?

A: Members can disenroll upon leaving the group or during the Annual Election Period.

Lasso Healthcare Group MSA Employer-Specific Questions

Q: How much will the Lasso Healthcare Group MSA cost the employer?

A: There are three off-the-shelf group MSA plan designs to choose from, or you can create a custom design. The off-the-shelf options range from $50-$500 per member per month, depending on the deductible/deposit amount. This unique group MSA product is completely customizable to the budget of the employer.

Q: What makes the Lasso Healthcare Group MSA a good option for employers with working adults over 65 or employers offering coverage for their retirees?

A: Group Medicare products are typically expensive, and yet individual Medicare products are very competitive and benefit-rich. Lasso Healthcare set out to bridge this gap by offering the only MA product to give money to the member (growth potential), while reducing coverage costs and age-related risks for the employer/association. The unique plan design speaks for itself.

As an example, many employers offer employees an HSA (health savings account). However, an active employee 65 or older is no longer eligible to contribute to their HSA account (both their own contributions and contributions from the employer are no longer allowed) once automatically enrolled in Medicare Part A upon turning 65; unfortunately, most don’t opt-out of this auto-enrollment and, therefore, lose the value of HSA contribution.

The group MSA is a great alternate coverage option that provides additional value as Lasso Healthcare provides 100% of the tax-free deposit at the beginning of the benefit period.

Q: Is there special paperwork for the employer to fill out?

A: Employers will need to fill out a census and elect their benefit design.

Q: Can the employer run a separate HRA in addition to the administrative buy-down?

A: Yes!

Q: What does the employee handbook have to look like?

A: Lasso Healthcare doesn't dictate the handbook's look or content but will provide plan documents to each group that the group can incorporate as needed into their employee handbook or benefits documentation.

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