The Chicago Tribune ran an article on Sunday, here, about health savings accounts (HSAs). It provides some further insight into the "new" health care mechanism, in that it looks at some of the ways individuals respond to the new accounts.
One person, Al Meginnis, decided to take out a high-deductible health plan with an HSA and has saved $2,400 in premium in one year. He looks at his health care provider's website to decide whether to have medical procedures. For example, he recently rejected a recommendation for $600 worth of physical therapy for arthritis, and instead took a generic painkiller recommended by another physician.
The report suggests he is happy with that result, but he didn't have much choice. His employer dropped the standard health insurance plan and converted to HSAs with high-deductible insurance to save money for the employer. Most of the employees are not happy, according to the human resources vice president. They see it as more costly up front.
Another firm that switched, Godberg Kohn, reported that employees think the paperwork of HSAs is burdensome, and costs of drugs tends to be much higher.
The article notes many of the problems pointed out in earlier postings here, and adds the concern, expressed by Karen Davis, presdient of a health policy organization called Commonwealth Fund, that people will end up delaying needed care in order to save money. The high deductible ultimately reduces the use of essential services as well as less essential ones.
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