In short, Health Savings Accounts put the insurance back into health insurance, provide Americans with a triple tax free means to save for future expenses, and deliver a strong incentive to economize on the use of health care.
And even at Wendy's, an employee base which includes the working poor, a group not uniformly healthy, the switch to HSA's caused premiums to rise only one percent.
David Hogberg at the American Spectator on the President's proposed HSA expansion:
Bush's agenda permits a low-income family to take a refundable tax credit to purchase an HSA. It also allows small businesses and civic and religious groups to form associations that enable them to pool their resources to purchase insurance for their members. Finally, Bush enables employers to put additional contributions in the HSA of an employee with a chronic health condition.
1 comment:
MSAs will be huge... it's one of those changes people overlook that eventually transform how we live.
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