We're never going to get medical inflation under control until we have full price transparency, and a system that incentivizes Americans to be cost-conscious health care consumers.
So it is VERY good news that HSAs are expanded in the House-passed bill. Another 20 million more Americans would have access to these health accounts over traditional health insurance and Obamacare plans that run up costs. This expansion will be on top of the 35 million HSAs already in place.
It allows Medicare recipients to have greater access to HSAs which will allow seniors and the government to save money.
Studies have shown that Americans with HSAs reduce their medical expenses by between 5 and 10%, while giving patients more health care choices.
CBO scores these HSA expansions as a $45 billion tax cut and makes no effort to estimate the behavioral changes that likely make this a long-term deficit REDUCTION measure.
The Senate MUST include this big HSA expansion to lower entitlement costs and help "make America healthy again."
