Security Health Plan launches new statewide Medicare option for the cost conscious

MARSHFIELD — Security Health Plan of Wisconsin, Inc., an insurance company that has built a strong reputation in rural Wisconsin, is increasing its statewide presence by introducing Medicare plans that will appeal to the cost conscious.

Six months after introducing its first statewide Medicare plan, Security Health Plan has introduced Secure Saver, a Medicare Medical Savings Account that will be available to all Wisconsin residents.

“We’re pleased to bring another option to Wisconsin residents who have not been able to consider our Medicare Advantage plans up to now,” said John Kelly, chief marketing and operations officer for Security Health Plan. “Secure Saver will particularly appeal to new Medicare beneficiaries who have used health savings accounts in the past and want to control their health care costs.”

Secure Saver features a $0 premium and a $4,000 maximum yearly expense for Medicare-approved medical costs. For 2016, Medicare contributes a deposit of $1,605 to Security Health Plan, which in turn deposits those funds into a member’s medical savings account. Similar to a health savings account, these funds can be used toward the plan member’s medical costs.

“In other words, the most a member will pay for covered medical expenses is $2,395,” Kelly said. “In addition, any of the yearly deposit left over at the end of the year stays in the member’s account and can be used for health care expenses in future years. This is a great option, whether you live in Milwaukee, Superior or anywhere in between.”

Secure Saver can be purchased during Medicare’s annual enrollment period, Oct. 15-Dec. 7, with an effective date of Jan. 1, 2016. New Medicare beneficiaries and those who qualify for special enrollment can buy the plan throughout the year.

For more information, including where to buy Secure Saver, call Security Health Plan at 1-888-456-2188.