Ted Cruz was right.
“You may have noticed that all the Nigerian email scammers have become a lot less active lately. They all have been hired to run the Obamacare website.”
There is only ONE solution to protect the best healthcare system in the world that will also guarantee short and long-term healthcare cost decreases and will encourage research and development of cures for disease, new drugs, medical techniques and technological devices. That solution is consumer-driven health care in the form of Health Savings Accounts. HSAs give consumers greater control over how they direct their health-care spending. The individual is able to roll over unspent amounts from year to year, therefore this money will remain in the account and compound over the years
Employees are able to make pretax contributions of as much as $6,450 a year for a family. Earnings are tax-exempt, and qualified medical expenses can be paid from the account tax-free. (Employer contributions are not considered taxable income to the employee). HSAs are paired with high-deductible health plans, incentivizing consumers to shop and consider costs for treatment and procedures. Studies prove that HSAs help reduce health-care spending which is important given the fact that the cost of healthcare has skyrocketed compared to the overall cost of living which has dramatically decreased. Why? Government intervention, subsidies and regulations.
HSA accounts should also combined with deregulation of medical insurance such as allowing insurance to be purchased nationally (across state lines) and removing mandates will also go a long way to reducing overall costs quickly.
OBAMACARE'S ATTACK ON H.S.A.s
- Obamacare bans the use of HSA funds for over-the-counter medications without a prescription.
- Obamacare also doubled (up to 20%) the taxes due on funds withdrawn from the HSA used for nonmedical purposes. These taxes exceed the early withdrawal penalties for tax-protected retirement plans.
- Obamacare drastically decreases the maximum allowable deductible in HSA-linked plans offered by small employers, increasing monthly premiums.
- Obamacare gives federal regulators the authority to define the “essential benefits” that all plans must provide effectively ending the option of catastrophic plans.
The liberal solution is to ration care for all, implement price controls and increase subsidies – all of which mask hidden costs, drive up overall costs, remove the patient/doctor relationship, discourage innovation and will effectively take down the best healthcare system in the world.