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-> Interesting Discussions
MagentaYenta
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 Thu, Nov 10 2016, 2:19 pm
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With the dissolution of the PPACA looming, just how will the Health Care Savings accounts impact the cost of medical care in the US? I'm trying hard to figure out how this will work since costs of services and delivery are determined by medical providers. Who will have the ability to save sufficient funds to provide for the medical care of their families?
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bluebird
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Thu, Nov 10 2016, 2:25 pm
They're combined with a traditional health plan that has higher deductibles and used to pay for things that aren't covered by insurance or over deductible. It's also tax exempt. The savings account doesn't replace insurance coverage completely. I don't think we can predict yet if that will change.
I've used these plans for a while because I know how my baseline, recurring health care costs for a year and was able to calculate how much each plan cost and found the HSA was cheaper for me.
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MagentaYenta
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Thu, Nov 10 2016, 2:28 pm
| bluebird wrote: | They're combined with a traditional health plan that has higher deductibles and used to pay for things that aren't covered by insurance or over deductible. It's also tax exempt. The savings account doesn't replace insurance coverage completely. I don't think we can predict yet if that will change.
I've used these plans for a while because I know how my baseline, recurring health care costs for a year and was able to calculate how much each plan cost and found the HSA was cheaper for me. |
Well that's how they currently work. I'm talking about the new version as proposed by the president elect. And even todays version does nothing to lower the cost of services and delivery.
Last edited by MagentaYenta on Fri, Nov 11 2016, 3:56 pm; edited 1 time in total
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bluebird
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Thu, Nov 10 2016, 6:21 pm
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Oh! Got it. I wasn't aware a plan was out yet. I'll read it and see what I think.
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bluebird
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Fri, Nov 11 2016, 3:36 pm
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There doesn't seem to be enough detail. It could end up being OK, as long as existing insurance plans are kept for people that won't save money with a high-deductible HSA plan. If it ends up replacing those plans, I think it will be a disaster for many people because there won't be enough incentive for medical providers to lower costs.
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