It seems that the cost of Health Insurance is higher than the benefit for most people. Instead of Health insurance, every one would put into an HSA account from each paycheck, pre tax, the amount they would pay for their health insurance. Employers, instead of paying partial or full Health Premiums to insurance companies, they add to the HSA account. With no cap on the amount of money you put in. Employers would get to write off what they put in, just as they do for insurance premiums.
These accounts would be able to be used for anything Health or Medical, including Holistic health, Mental Health, Personal Trainers or dietitian support, & Elective procedures, such as Lasik and cosmetic procedures.
This forcing medical providers to become competitive and provide quality care at fair prices. It would help control astronomical price gouging on Rx medications needed for Cancer & Diabetes.
It will also hold individuals accountable for how they treat their own bodies and make more mindful and healthy choices.
These HSA accounts would not expire and can accrue nicely and in time there will be a sizable amount that can help with elderly care. If a person were to die while still having money in their HSA it would be transferred to a beneficiary. In instances there is no beneficiary, it could be “donated” to medical schools, labs, research facilities, centers for disease control & prevention…
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Excellent, simple idea! I would add that “gig” or part time workers who do not have access to employer plans could do the same on their own!
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I agree, with the exception that there be an optional plan or coverage available for major medical coverage, i.e., unexpected surgeries or unexpected acute or chronic illness such as cancer.
Also would like to see incentives via possible employer match or discounted doctor visits for metrics such as maintaining healthy weight, cholesterol levels, blood sugar, etc. In other words, reward people for staying healthy.