Interesting story on Universal Health Savings Accounts and how it might be what Obama really wants, he just might now know it.

The time has come to propose an expansion of HSA and make it the universal foundation of American healthcare. Universal HSA should come with a mandatory major medical indemnity and prescription plan. These will be the same plans offered to Federal and private-sector employees through their employers. These are also known as ERISA plans (Employee Retirement Income and Security Act) which national employers choose in order to avoid compliance issues in the 50 individual States. Any funds contributed to the HSA after the payment of the indemnity premium will be saved for future needs be it co-pays, co-insurance or what the accountholder deems necessary. The savings accumulated may be left to account holders heirs without estate taxes.

Consumer Managed Health Care and Health Savings Accounts (HSA’s) May Be the Wave of the Future

By Christopher Beard

The need for reduced health care cost brought about the formation of Health Saving Accounts about four and a half years ago and their use has grown in use by American consumers exponentially. Most consumers will agree that health insurance is too expensive especially if you have a family to cover. Deciding what policy makes the most sense can be confusing regarding co-pays and deductibles, and features because the ones with the most features and lowest deductibles cost the most so you are left with the dilemma of determining how much will you actually use if you pay for all the bells and whistles. This is where the Health Saving Account can make it possible to get great coverage with a reduced premium and have a reserve expense account for when a major medical expense does occur. (more…)