Saturday, November 21, 2009

why are the Senate Dems attacking HSA's?

Even if you want to implement health care for those who don't currently have it, what's the point of sacking HSA's?

Often, I can put myself in the shoes of those with whom I disagree. But when I'm dealing with statists, it's difficult to deal with their blind, anti-progressive, fundamentalist, and destructive faith.

Unless I'm missing something, this is one of those occasions.

From the WSJ editorialists...

About the best that can be said about the Senate health-care bill that Harry Reid revealed this week is that it's marginally less destructive than the House monster....We'll dissect the damage in the days to come. But for today let's focus on the damage the bill would do to consumer-driven health plans—the kind that give individuals more control over their health dollars and insurance choices. The 2,074-page bill crushes them with malice-aforethought....

The Reid bill also assaults health savings accounts, or HSAs, which allow individuals to accumulate tax-free funds for future medical expenses when coupled with low-premium, high-deductible insurance. The Reid bill changes tax provisions to make HSAs less attractive, but the real threat comes via increased regulation.

These insurance products will likely be barred from the insurance "exchanges".

...about 40% of tax filers with HSAs earn under $60,000, according to the IRS. The Employee Benefit Research Institute reports that 4% of adults with private insurance have an HSA this year—up from 1% in 2006—and about 9% are enrolled in some form of consumer-directed health plan. It also found that beneficiaries are evenly split between those with health problems and those without....


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