Under the new GOP presidency and congress Obamacare looks to be repealed and the replacement to emphasize Health Savings Accounts. The economic rationale for Health Savings Accounts (HSAs) is that when consumers pay for their health care out of the accounts, they will drive down the cost of health care by favoring the least cost procedures. Unfortunately, HSAs without price transparency for the consumer does nothing to bring lower prices or efficiency to the market place. HSAs in our current market place are just scams.
Health Savings Accounts
Posts related to High Deductible Health Plans (HDHP) that work in conjunction with a Health Savings Account (HSA).
A little known provision of health plans that also are designated as being a Health Savings Account (HSA) require a single member of a family to meet double the deductible amount of an individual before coinsurance is applied to health care services. Unlike traditional family plans where any one member of the household can transition […]
Once you set up a HSA in coordination with a High Deductible Health Plan (HDHP), the contributions you make to the HSA are deducted from your Federal taxes. You are then reimbursed for your qualified medical expenses from the HSA.