Health Savings Accounts

The Tribune has an interesting point/counterpoint today on the issue of health savings accounts, but I cannot find it online. I'll keep looking.

Health savings accounts are like an IRA. You put your money in tax-free and, as long as you use it for health care, you withdraw it tax-free. In the meantime, you can drastically cut your health insurance premium because you can switch to a high-deductible, catastrophic loss policy. In order to pay the high deductible, you use the save funds in the HSA. Great idea, right?

Well, not if you're a collectivist congressman from Seattle named Jim McDermott. And why does Rep. McDermott oppose it? It's hard to tell, other than the reasons appear to be related to a series of unconnected socialist precepts tied together with some left-wing talking points.

First, he addresses the suggestion that, by putting this money in the hands of the individual we will turn health care consumers into better consumers. He then makes some offhand reference to coupon clipping, and off we go to the next argument: "A fundamental premise of this social re-engineering is that Americans would shop for health care bargains, as if they were shopping for pans. In many newspapers, Wednesday is grocery coupon day. Under the president's plan, Thursday might become medical coupon day."

Hmm. So we'll just make fun of the idea instead of responding to it. Good approach. And why wouldn't people shop for the best deal on their health care? Anyone else notice the Lasik and laser surgery ads? What's this competition thing again?

He then says that HSA's should be called GIA's for "Go it alone." You know what? I agree. We should go it alone, rather than expecting our neighbors to be responsible for us. Further, a credible case can be made that the third-party payor system is what got is into this mess in the first place.

He then says "Who but the wealthiest could afford to save enough money to pay the expenses resulting from a serious medical illness or injury before a high-deductible policy even kicked in?  Would saving fifty bucks a month protect you financially from the cost of your deductible for a heart transplant, hip replacement or even a broken arm?  Do you forgo car insurance and set aside a hundred bucks a month in case you’re in an accident?"

Give me a break from this alarmist baloney. Actually, yes, you do save a hundred bucks a month. For fifteen months, until you set aside enough to pay the deductible. Or maybe a little less than that, or maybe a little more. Whatever you choose to set aside. And where does the money come from? Just compare the premium prices on a full-service health insurance plan with one from a high deductible plan. When you raise your deductible, your premium goes down. Your premium savings go into your savings plan. Get it? It's yours, not the insurance company's.

He then says that HSAs will accelerate a trend that sees fewer and fewer employers offering health insurance. Why are fewer employers offering health insurance? Oh yeah, the cost keeps going up. So, if we reduce the premiums then fewer employers will offer insurance? Only a leftist could accept that logic. To me, as an employer, it seems that if we reduce premiums I will be more likely to offer health insurance.

Whew, we're almost done (he's wearing me out!). Let's see, what more do we need? I know, a gratuitous shot at the GOP: "How many workers will have employer­ sponsored health insurance five years from now if the president gets his way? The answer can be seen by looking at what Republican policies have done for defined benefit pensions. By the millions, workers are being forced to go it alone — promises broken, contracts broken, lives broken — as more companies cancel or deny pension programs. That’s the model for the HSA."

If you had any question about how stupid the Democrats think you are, just read the foregoing. He does not even attempt to explain the relationship between alleged GOP policies, the pension debacle, and HSA's. Hell, he figures we're so stupid, he can just throw some stuff together in the same sentence and, shucks, we'll believe it. "Heck, yeah. Them durn Republicans done stole my pentzin. And thur plannin' ta do it again."

He finishes: "America’s health-care crisis isn’t going to be solved until we create a national program, covering everyone, and sharing the risks as one nation." Yup, a government program is the only solution, according to McDermott. Just look at Medicare, Welfare, and all the rest.

Any more, these guys don't even hide the fact that they are socialists.