Where the Hell Are Medical Savings Accounts?


chained caduceusThe actual problem with our failing health care system is that consumers have no control over it. Already, too much is paid for by middlemen like insurance companies and government. If Americans only paid 5% of their food bills, a cheeseburger would cost fifty bucks, too.

Why are people handing off control of their health care to middlemen? Because government imposes massive taxes on them, and then “rewards” them, with tax breaks, for paying needless insurance companies to cover their well-care, checkups, and minor problems while charging them triple what those will cost.

If you say “screw that, boss, I’ll take the cash instead of the health insurance”, you’re forced to pay taxes on the money, when the insurance was pre-tax.

The solution? (aside from cutting the massive tax burden)

Medical Savings Accounts.

Instead of giving the money to a middleman insurance company, you get to keep it yourself, to save for any medical needs. It is not taxed, and once you accumulate enough to cover any predictable needs, you roll the rest over into a retirement account each year. Meanwhile, you by a very cheap catastrophic insurance plan, that only covers unexpected, rare disasters like cancer and falling in a wood chipper. These can cost only a fraction of a harmful full-coverage plan.

This gives you control over your own health care, the ONLY way to cut costs. It also allows you to save for your retirement, freeing you from depending on the ridiculous, doomed social security system that will NOT be there when even Gen X retires.

Why do we not have this?

Ask your congressman.

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About kazvorpal
Polyamorous, libertarian heinleiner. ENTP, student of traditional Shaolin kung fu, writer, cunning linguist.

2 Responses to Where the Hell Are Medical Savings Accounts?

  1. colie says:

    This idea would not be beneficial to the health of America as a whole because people would know that if they don’t use the money in their medical savings account, it will be rolled over into a retirement fund. Rather than spend some of that money and go to a doctor for an issue they perceive as minor, some people will ignore some afflictions that could have major consequences later on so they “save money.” In the long run, people will be more sick because they refuse to spend money on preventive care. America has the lowest life expectancy of almost all developed countries. The issue is that people without health insurance don’t go to the doctor when they need to because of high out-of-pocket expenses. By having health insurance, people have essentially already paid to use medical services; going to the doctor is something many feel is a right because they have already paid for it. Taking that away, or allowing people to decide for themselves when and where to spend money on health care might be cheaper until they become so sick they run out of funds in their “medical savings account” and go into debt. We need to join the rest of the developed world and have universal health care. This country was founded on the principles of life, liberty, and the pursuit of happiness. How can you pursue happiness if you’re sick in bed?

    • kazvorpal says:

      > Rather than spend some of that money and go to a
      > doctor for an issue they perceive as minor, some
      > people will ignore some afflictions that could have
      > major consequences later on so they “save money.”

      > In the long run, people will be more sick because
      > they refuse to spend money on preventive care.

      One of the ugliest things about socialism is that sort of arrogance: “We need to violate everyone’s freedom of choice, in order to force them to do what WE think is best for them”.

      The fact is that, statistically, people will mostly do better for themselves than any coercive agency could figure out they should do. This is why freedom leads to greater health, prosperity, and success.

      In fact, you’re actually making an argument FOR medical savings accounts, and against socialized health care, because you are admitting that people will actually use their judgement, based upon the value and availability of resources, rather than blindly burdening the system unchecked, resulting in the very rationing that everyone correctly warns socialism always produces.

      > America has the lowest life expectancy of
      > almost all developed countries.

      This is incorrect. It has a lower live expectancy than many northern-European countries, but an equal or higher life expectancy than central or southern European countries.

      The reason is that, for reasons not 100% clear, the farther you live from the equator, the longer your life expectancy, statistically.

      Each US state has a life expectancy equivalent to that of European states of the same latitude.

      You are simply citing a prime example of how socialists lie to you with statistics out of context.

      > The issue is that people without health insurance
      > don’t go to the doctor when they need to because of
      > high out-of-pocket expenses.

      They judge when to go and when not to, based on resources. This is a good thing. Lack of it is why socialism results in skyrocketing costs, rationing, and waiting lists.

      > We need to join the rest of the developed world
      > and have universal health care.

      That the rest of the world is hag-ridden with economic tyranny doesn’t mean that we need to conform, but that they need to become more free.

      There’s a reason why, even in this depression, we’re the economic engine of the world.

      > This country was founded on the principles of life,
      > liberty, and the pursuit of happiness. How can you
      > pursue happiness if you’re sick in bed?

      Pursuit of happiness was specifically chosen (as a placeholder for “private property”, the original ending of that phrase) because it shows that you have no right to happiness, and especially should not have alleged happiness forced upon you, but simply have the freedom to choose to pursue it for yourself.

      Meanwhile, you are advocating the abandonment of much of the LIBERTY we have left.

      He who controls your access to health, controls you. If you depend on the state for a life need like health care, you are their slave.

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