Because HSAs and HDHPs Work, We Should Get Rid Of Them

Below is a Google News alert I received today regarding HSAs. It struck me, not so much because of the content of either article, but rather for their stark contrast between one another.

November 10, 2008

Google News Alert for: HSA

GETTING PERSONAL: HSAs‘ Role Could Diminish Under Democrats Alibaba News Channel – New York,NEW YORK,USA While it’s thought to be unlikely that President-elect Barack Obama will phase out HSAs, their attractiveness to consumers may diminish if the his … See all stories on this topic

Ask an outside consultant Minneapolis Star Tribune – Minneapolis,MN,USA Health Savings Accounts (HSA) may be the best solution for your firm and your employees, given the demographics of your staff. An HSA is available to those … See all stories on this topic

HSAs are about to complete their fourth year of existence, awareness has increased significantly, adoption has been strong and, according to Watson Wyatt, about a third of large employers are offering them to their employees in 2009. In fact, if you are reading this, you may well be looking at them for the first time yourself. After four years, High Deductible Health Plans (HDHPs) with HSAs are totally in the mainstream. People are beginning to discover they are an effective healthcare tool. They actually work.

HSAs are totally fair. They offer the exact same benefits to all in terms of who can use them, how much they can save and how much of them they can deduct from their taxes.

Yet…they have always been a political divider. They are not THE solution to our nation’s healthcare problems, but they are enabling employers to offer insurance and enabling individuals who could not afford insurance before to have coverage if they want it. They are and can continue to be part of a solution that moves American’s toward greater personal responsibility as it relates to their health and can even help motivate us to live healthier lives. Yet….they are a political divider.

I for one, have one. Because I have a more vested stake in my healthcare than I did when I had an employer sponsored PPO, I live a healthier life. I exercise and eat much better than I did before I first began understanding HDHPs and HSAs. I say the less politics our government plays with our health, the better. I wanna see some of that “reaching across the aisle” love our congress is always talking about but rarely walking about.