[chiller]

Here's the first benefit of a Bushie controlled govt.

[The Obstinate Insomniac]

bump

[BfloGuy]

I hope this comes to pass.

The health care system is so out of whack because of gov't intrusion that more and more people are happy with the idea of nationalizing it.

With a savings account and a high-deductible catastrophic insurance policy, many of us self-employeds could make it work.

Frist will prove himself to me with this issue.

[EggsAckley]

I've had a MSA for about five years, and I think they're the perfect answer to the insurance problem. Once a year I add up the prescriptions and they send me a check for exactly that amount. And they send it the minute they get my fax. Got it in three days.

[Vince Ferrer]

We need to back this early and loudly.

[PeterPrinciple]

"However, so far only 100,000 accounts have been created. Critics say that's proof that the public doesn't want them."

The truth is that instead of current policies being accepted, this original law required an odd deductible amount that the industry didn't have in place. It was set up to fail. There is such a thing as Medicare msa but no company offers a policy that meets the govts odd requirements.

[dawn53]

it allows individuals to set aside money tax-free and roll it over every year to pay everyday medical expenses

A medical savings account that could be rolled over makes sense. The ones offered through my husband's employer do not allow you to roll over your excess. Therefore, if your bills do not add up to the amount you've deposited, at year's end, you lose that amount you've deposited but haven't used.

[what's up]

I researched these; unfortunately, I don't think they're offered in Hawaii.

[Taxman]

MSAs are an excellent idea -- and a step towards breaking up the Liberal/Socialist/Marxist cabaal, as well.

Hope the Republicans have enough backbone to get a good MSA plan enacted into law. They are gonna get severely beat up by the Hitlerys, Schumers, Kennedys, et al. Not to mention the Liberal/Socialist/Marxist press.

Gonna be fun to watch, and gonna be fun to participate in.

Good segue to the fundamental tax reform effort, too. A double win?

For example, if MSAs are a great idea (they are), then ESAs (Educational Savings Accounts) are a great idea. One can make a case for USAs (Unlimited Savings Accounts -- totally tax-free money going in and coming out).

Then the question becomes: "Why are we taxing savings and investments at all?"

Not too far to stretch, and we'll have a consumption tax debate. Bring it on!

[Drango]

I looked into a MSA several years ago...they were so awkward and ham-fisted. Combined with the lack of overall information, I never pulled the trigger. Perhaps if they go mainstream?

[alloysteel]

The concept is simple enough - set aside an equitable amount of money, and protect it from taxation, to take care of basic medical needs, then carry a catastrophic medical insurance policy to cover the really crushing medical costs when the bills mount up in a crisis or long-term situation.

The medical "insurance" program as it now exists in America was cobbled together almost as an afterthought during the Second World War, when wages were frozen, and the big employers had to offer a fringe benefit to lure in workers. When the wage freeze was lifted, the benefits were continued as a company expense, instead of being given as a wage increase, and relying on the employee to see to personal protection against medical costs. For years, there was no portability to many of the health plans, and an artificial crisis was created, which keeps surfacing today.

[Willie Green]

Here's the first benefit of a Bushie controlled govt.

Doesn't do a darn thing to actually lower medical costs.
Just another loophole tax dodge for those who dabble in the stock market.
Just as fraudulent as his "terrorism insurance".

[OldFriend]

This is the plan that Steve Forbes was recommending when he ran for President. I believe his magazine uses these accounts with the unused money in the accounts reverting to the employee at the end of the year if it isn't used.

[Harmless Teddy Bear]

It's called medical savings accounts and it allows individuals to set aside money tax-free and roll it over every year to pay everyday medical expenses. The accounts are then combined with a less expensive catastrophic health plan to protect the person from massive, unexpected health bills.

Where do I sign up?

[Torie]

I am one of the few that has an MSA account currently. I use it as a supplemental IRA, and never pull the money out to pay medical expenses. I guess it is the "law of unintended consequences."

[Western Phil]

However, so far only 100,000 accounts have been created. Critics say that's proof that the public doesn't want them.

The reason there are only 100,000 is that information is hard to find and it is difficult to qualify. It was designed during the Clinton administration and they did not want any reasonable alternatives to single provider.