Thursday, March 27, 2008

Switching to HSAs saves big Health Care money

What!! Turning health care over to patients saves money? Whoodathunkit. Hey, we ought to try this with education and let PARENTS make the decisions about where their children go to school.

Link HT: American Shareholders
The most successful employers are aggressively pushing consumer directed health plans (CDHPs), which put more control in the hands of workers, usually by combining a high deductible insurance policy with a tax advantaged health savings account. Some firms are setting the premiums for such plans at 30% below traditional plans to encourage participation, and it seems to be working. Employers that offer them as an option report that participation hit 15% this year, up from 10% in 2007 and likely to hit 20% next year.