HSA HOLDERS SAVE ON DRUGS

Voluntary National Program Offers Discounts That Are Under Average Wholesale Prices

On Prescription Drugs at Over 50,000 Pharmacies

Medical Savings Insurance Company, a leading provider of Health Savings Accounts has established a Prescription Drug Benefit Savings Program designed to reduce health care costs for policyholders of the Medical Savings Health Plan.

The agreement will allow Medical Savings Insurance to provide policyholders with prescription drug discount cards at no additional cost.

"We are pleased to offer a voluntary prescription drug program that is available at over 50,000 Pharmacies nationwide," said J. Patrick Rooney, Chairman and Chief Executive Officer of Medical Savings Insurance. "Our HSA holders have the freedom of choice to buy prescription drugs anywhere they want, but now they have the option to save on their drug costs."

Health Savings Accounts are the newest health care option for people to use tax-free money to pay the small bills (like pharmacy bills). An HSA is a two-part health plan consisting of a high-deductible health insurance policy to pay the big bills, and a 100 percent tax-deductible savings account to be used for small, routine bills such as prescription drugs.

HSA's are a hot topic because they can be used to pay for alternative, nontraditional health care typically not covered by an HMO or traditional insurance -- dental, acupuncture, chiropractic, Oriental healing, etc. -- and the money in the account not used by the end of the year is kept by the policy holder, tax-free.

"The money saved with the prescription savings program will be kept by the HSA holder, tax free," said Rooney, who is nationally recognized as the father of Medical Savings Accounts (now called Health Savings Accounts).