To all the pundants saying/writing where is the republican answer to Obama care.
At one time the republican leadership fought for HSA's (health care savings accounts) they are the best answer / way out of this mess.
Funny thing is the HSA saves the taxpayer many times over, no new website, admin, IRS agents, or navigators needed. Al the structure is already here. Nothing new needed.
For those of you who have not heard of HSA's:
Instead of paying $600/month for a standard medical HMO/PPO policy with limited doctors/hospitals.
That same $600 is split into $300 toward a catastrophic medical policy.
The other $300 goes toward a Health Care Savings account.
(A.K.A. a severely conservative mutual fund that grows your money. This is what you draw from, with a debit/credit card, when needed.)
Some companies provide startup money to get your account started as this lowers their medical related costs as well.
We should repeal the Obama care taxes on HSA'S and restore the HSA pretax deduction, no not restore-raise the deduction limit. Couple this with catastrophic policies that cover everything with-in capped upper limits of 2-5 mill/year, and we have the best way out. Allowing individual purchases of this policy type make the insurance totally portable from job to job which removes losing the health insurance upon job loss. Allowing the HSA to be passed on to the dependents/willed relatives where there are no surviving wife or dependents will enrich American children. Starting these policies and their accompanying HSA accounts when people are young and not sick, builds wealth and incentives young people to get there own HSA/catastrophic medical policy. Thus they have a reserve cash fund (earning interest) to draw from when they get excessively sick.
Owning a HSA and catastrophic policy makes Americans self sufficient --its their money so they try not to waste it. They shop for the best deal which drives down costs. There is much less overhead and nobody between them and their doc. No required "best practice gov approved" rules that the doc has to follow. Your doc decides your care and your free to get as many other opinions as you want - your paying for it.
I have this setup. I can see any doc in the world. I'm paying cash!
Only true medical expenses count toward the 5K deductible. After the 5K deductible is met the catastrophic policy takes over so if I'm really sick or ended up in the hospital for anything I'm covered. The catastrophic policy administrator of my policy has set up "usual and customary prices" which I can try to beat by shopping around, or just pay the "standard Rate". You can save alot of money by shopping around!
A perfect example of the benefits of owning a HSA and catastrophic policy:
When I lost my job this year. My catastrophic policy was with my last employer so it went away, however, I had 12K saved in my HSA. So when my son got sick, and the doc said, he needed a cold air vaporizer and these medicines, he got it.
At that time, I had no money in my checking/savings accounts, but I still had my saved HSA account money. From which I payed: the doc, Walgreen's pharmacy, and I bought the vaporizer from Walgreen's it self.
With the traditional policy I would have had nothing to take care of my son.
I would have had to go to the government clinic, plead to get approval for my son's care from the bureaucrat in charge, and let the taxpayer pay for the medical care.
I prefer my HSA to having to plead/beg for care from the gov bureaucrat.
No comments:
Post a Comment