Glossary - M
MSASee Medical Savings Account
Managed CareAny arrangement for health care in which an organization, such as an HMO, another type of doctor-hospital network, or an insurance company, acts as an intermediary between the person seeking care and the physician.
Maximum Contribution Limit
MedicaidA program in the United States, jointly funded by the federal and state governments, that reimburses hospitals and physicians for providing care to qualifying people who cannot finance their own medical expenses.
Medical Savings Accounts (Archer MSA)MSAs were a type of spending account offered to small businesses and self-employed individuals to save money for future medical expenses. There are IRS guidelines on MSAs regarding enrollment, contributions, distributions, and being covered by a High Deductible Health Plan.
MedicareA program under the U.S. Social Security Administration that reimburses hospitals and physicians for medical care provided to qualifying individuals.
MemberA person and/or their dependents who are covered by a health carrier and enrolled in its heath plan. Also known as covered person and plan participant.
Money Market SweepA bank account that, at the close of each business day, automatically transfers amounts that exceed (or fall short of) a certain level into or from a higher-interest earning money market account.
Introducing UMB HSA Saver
UMB HSA Saver is a unique investment platform designed with ease in mind. Account holders can easily research, buy and sell funds with a couple clicks.