Create your own health savings account!
Perhaps the biggest clue that the “affordable” care act had NOTHING to do with health care costs comes in the fact that health savings accounts are not promoted in any way, except for extinction. Health savings accounts are an affordable way to save up for medical expenses and have the advantage of allowing the taxpayer to deduct up to $3,350 (single) or $6650 (family) from their taxes. These accounts “roll over,” meaning it is NOT use it or lose it like in cafeteria/flexible spending plans! In essence, you are saving for future medical expenses while deducting all (or a large portion) of that savings from your income taxes at the end of the year.
The only downside to health savings accounts is that you must have a high-deductible insurance plan in order to qualify for it. Now, will someone please explain to me why it should matter what kind of insurance plan someone has in order to have one of these accounts? Maybe if you are on congress’s health care plan you don’t have to pay for anything, but even on the best of plans for the American public you will at least have to make a copay! Health Continue reading