Health Savings Accounts

from Ben's mom

The rising costs of health care has been an interest to me for a long time. I worked in the medical industry (records, reception) for 7+ years and I well know the concerns of medical personnel over the rising costs of care due to new technologies, lawsuits, abuse of the system by patients, etc.... Meanwhile, the government (Medicare, etc...) and insurance companies are lowering payments for health care, squeezing the industry into providing less care on a tighter schedule to make ends meet.

My interests only increased when we came to the Northwest to a job that doesn't provide insurance benefits. The high costs of health care to the consumer weren't just theoretical, they were real. When I was in my early 20's I could take a few chances and go without insurance; it is far less prudent to do so now. And with a child.... Well, we are now in family mode which means more responsibility.

So, the research fell to me. There is no great solution but I commend the reformers that are attempting to marry high-deductible catastrophic plans with health savings accounts (above the line tax write-offs). If they are successful in selling a strong minority on this option, it would successfully drive down the costs of health care (making less paperwork for health care providers and insurance companies). And it would fend off the "we must have national health care" folks for awhile longer. (And if you think that national health care is a good thing, I would encourage you to visit a few foreign countries that have it and try to get into a doctor. Or fake a heart attack.)

Providers love patients like me who come in without an insurance company to bill who pay the bill that day. They usually offer a discount for same-day payment. It keeps their costs down.

And while I greatly look forward to the day when we will have employer-sponsored benefits again, I have learned about insurance costs (ridiculous). I like the idea of employers empowering their employees to make their own decisions about health care and choosing from a range of options, including the right to receive a cash benefit that they can use for a high-deductible plan and health savings account. Employers who would do this foster a sense of independence and encourage their employees to be responsible. Just like allowing workers to turn unused sick time into vacation time, it promotes healthy lifestyles and encourages people not to make unnecessary trips to the doctor.