HSA’s are a good idea.
The only time they get hairy is early (first few months) in the process if something catastrophic happens and the deductible hasn’t been saved up yet.
It can be in a plan, but nothing sexy enough about that to get a nation on board.
If I have a HOT button, this is it. If People never smoked, used alcohol very little, slept a proper 8 hours, ate vegetables fruit and exercised, it they were monogamous, gave up being embittered, jealous, angry, anxious and worry, making peace with their in-laws, employers, if we could get them to wash their hands, watch their weight, consumption of sugar,...can you imagine how much LESS medical expenses this person would have. I was in Fresno, California, and the Foot Doctor said, AH COME ON, LET ME SEE YOUR FEET, IN THE END MEDICARE WILL PAY ME AND YOU WON’T OWE ME ANYTHING. I walked away, in pain, as I’m trying to save the next generation from picking up my tab. I’ve had malaria and hepatits and never went to a doctor. I’d LOVE to get some of the money back I’ve saved the government. I get angry seeing everyone want all kinds of procedures and free equipment.
That only works so long as at least half our population still believes it is their responsibility to pay for their own health care and it is not a “human right”.
That is why it will not happen. Employers like to keep employees dependent. Too much financial independence encourages mobility.
Really bad idea for 38 states.
Switch to HSAs and within 10 years there will be no specialists in high cost fields of medicine.
HSAs without catostrophic umbreela policies are a recipe for disaster that will lead to single payer system once the HSAs are exhausted for a large enough plurality of the population that everyone knows someone with a HSA sob story.
[QUOTE]
Here’s where things go awry.
If an insurance company is certain that they’re going to pay, say, $2,500 in claims on a policy each year, then they need to collect at least $2,500 just to have a prayer of staying in business. In fact, with their own costs...[Snip] they might need to collect $5,000 just to have anything left over after paying out that $2,500.
“Well that sounds kind of stupid, having to send the insurance company $5,000 just so they can send $2,500 of it back.”
Hold that thought. Enter, Health Savings Accounts.
[END QUOTE]
This is just patently false scaremongering.
In the state of New Jersey, for every dollar in premiums collected, the health insurance companies must set aside 82.5 cents for claims. ObamaCare sets a national standard of 80 cents of every premium dollar set aside for claims.
With that set aside money, the insurance companies invest in low risk low yield investments... this scaremonger is instigating private individuals to invest in higher risk investment strategies with very small sums of money playing roulette with their medical treatment needs.
This author is a paid shill.