| As Health Savings Accounts grow in | | | | while denying more expensive specialist care |
| popularity, there is growing fear among those | | | | to those with serious medical problems. This |
| who want to nationalize healthcare that they | | | | is because most people (voters) are healthy |
| will not be able to put the cat back in the | | | | most of the time, and the sick and dieing are |
| bag. There are already over 3 million HSA | | | | less likely to be able to organize into a |
| owners, and by 2010, the Treasury Department | | | | political force.What makes the United States |
| estimates as many as 45 million Americans | | | | such a great country is the "freedoms" we |
| will be covered by HSA plans. They will have | | | | enjoy. Though our freedoms seem to be |
| billions of dollars invested to cover future | | | | constantly under attack, there is still no |
| medical expenses, and by then it will be | | | | nation in the world that has the freedom of |
| politically impossible to take that benefit | | | | the press, freedom of religion, freedom of |
| away.If you currently have a high-deductible | | | | association, or the free markets that we have |
| health insurance plan, you can invest | | | | in the United States. As anyone who |
| tax-free money in a Health Savings Account. | | | | understands even a smidgen of economics |
| You get to choose the type of investment - | | | | knows, free markets encourage competition and |
| anything from savings accounts or money | | | | innovation, which lead to lower prices and |
| market funds, to a full brokerage house. If | | | | better quality.Though the U.S. system of |
| you invest wisely, you could have well over | | | | health care can not really be considered a |
| $500,000 in the account when you retire. You | | | | "free-market", it is certainly much more free |
| will be able to use that money to pay for | | | | than any single payer system. Some of the |
| your healthcare in whatever way you please, | | | | benefits we see as a result of our current |
| tax free. You can go to the best surgeons, | | | | healthcare system include:- U.S. medicine |
| or the least expensive doc-in-a-box. If you | | | | produces the best outcomes for virtually |
| decide to treat a condition with acupuncture, | | | | every patient, from premature babies to |
| homeopathy, or psychic healers, you can do | | | | elderly cancer patients. |
| that too. Whoever offers you the service you | | | | |
| want with the best combination of quality and | | | | - American companies are the chief source |
| price should get your business. And since | | | | worldwide of new treatments and procedures |
| you are the one paying, it will be completely | | | | which each year are used to save millions of |
| your choice. You have healthcare freedom.If | | | | lives. |
| proponents of a single-payer system were to | | | | |
| ever have their way, you would be at the | | | | - U.S. medical training and research |
| mercy of a government bureaucrat when it | | | | facilities are the best in the world.Though |
| comes to your healthcare. To see what this | | | | Canadians might have to wait a year or two |
| may look like, all one has to do is look at | | | | for hip replacement surgery, they can get the |
| the state of health care in Canada, England, | | | | same operation done on their dog in less than |
| New Zealand, and the parts of Europe that | | | | a week. This is because veterinarians are |
| have not yet abandoned single-payer | | | | competing for that business, finding |
| systems.Proponents of a single-payer system | | | | innovative ways to deliver service more |
| tend to point to Canada or England as | | | | quickly and less expensively. Another |
| countries that cover all their citizens with | | | | example is laser eye surgery, a procedure |
| quality healthcare, while spending less money | | | | that is rarely covered by insurance, so laser |
| per person than the U.S. But if we look a | | | | eye surgeons must compete on the basis of |
| little more closely, we see that these | | | | cost and quality. While costs for most |
| publicly financed health insurance systems | | | | medical procedures have been going up every |
| are breaking down, the quality is low, and | | | | year, the cost for this procedure has dropped |
| the costs can be quite high. Here's what | | | | by 80% over the past decade.Unfortunately, |
| Canadians have to deal with if they need | | | | U.S. healthcare policies still tend to limit |
| medical care:Long waits. Hundreds of | | | | competition, restrict consumer's freedom to |
| Canadians go to Detroit and other U.S. cities | | | | choose, and discourage consumers from |
| every year for procedures like CAT scans, | | | | shopping for value. Thus, there are too few |
| which they can obtain treatment in a matter | | | | choices and there has been little attention |
| of days. In Canada, the wait is typically | | | | paid to price and quality of service. The |
| six months. Currently 876,000 Canadians are | | | | answer is clearly not more government |
| on waiting lists for medical | | | | intervention, but instead letting competition |
| procedures.Difficulty in getting | | | | and the power of the marketplace drive down |
| life-enhancing procedures done. If a | | | | prices and increase quality and access to |
| Canadian is having a heart attack, they will | | | | care.Health Savings Accounts are the |
| be treated right then. But if the surgery is | | | | SolutionThere is increasing recognition that |
| considered "elective" (meaning that possible | | | | third-party health insurance payers are |
| death is not eminent), the wait could be | | | | actually a major cause of escalating medical |
| months or years. Average wait for cataract | | | | costs and the decline in the quality of |
| removal is 18 months. Average wait for a | | | | service. The increasing adoption of HSA |
| knee replacement is one year.Increased risk | | | | plans has already begun to cause greater |
| of dieing. The average Canadian waits eight | | | | transparency and competition in the medical |
| weeks to see a specialist, and another nine | | | | marketplace. There are now physicians |
| weeks before getting treated. This is even | | | | available by phone, medical kiosks setting up |
| the case with conditions that are likely to | | | | in malls, doctors that accept only cash (and |
| get much worse if there is any delay in | | | | who charge significantly less), and others |
| treatment. For example, the median time for | | | | competing directly for the consumer's |
| a mastectomy is 14 weeks, enough time for the | | | | healthcare dollar.Don't be fooled by the |
| cancer to spread to other parts of the body. | | | | politicians who advocate a single-payer |
| In fact, 28% of those diagnosed with breast | | | | system, claiming their only concern is the |
| cancer in Canada die from it, while the | | | | uninsured. If a single body (such as a |
| mortality ratio in the U.S. is only | | | | government bureaucracy) controls healthcare, |
| 25%.Things don't look any better across the | | | | they control one seventh of the national |
| ocean. Each year the British National Health | | | | economy. And everywhere in the world that |
| Service cancels 410,000 surgeries because of | | | | central control of the economy has been |
| resource shortages. According to the London | | | | tried, it has been a colossal failure.As |
| Sunday Times, there are currently over 1 | | | | public policy reforms centered on individual |
| million Brits awaiting elective surgery. | | | | choice continue to gain wider footholds, the |
| Thomas Cook, a British travel agency, is even | | | | result will be greater prosperity, greater |
| considering offering "sun-and-surgery" | | | | choice, and a better value for all. The |
| packaged trips to Indian hospitals for | | | | culture of dependence and entitlement will |
| British citizens fed up with low standards | | | | begin to fade, as millions of individuals |
| and long waiting times for surgery.The | | | | demand further policy reforms that will |
| British and Canadian governments have the | | | | reinstate the values of freedom and personal |
| power to make healthcare "free", but they are | | | | responsibility that helped establish this |
| unable to control its costs. So the costs | | | | great nation.As more consumers turn to health |
| become longer (and potentially fatal) delays, | | | | savings accounts, the market will respond. |
| and fewer innovations.It's not surprising | | | | Innovative providers will begin to compete |
| when you think about what is happening. | | | | more on price and quality of service, and |
| Universal health insurance systems always | | | | those that provide the best value will get |
| encourage over-consumption by patients, and | | | | wealthy doing so. And all consumers will |
| such over-consumption always leads to | | | | benefit.By Wiley Long - President, HSA for |
| financial crises. The result is inevitably | | | | America - HSA for America makes it easy to |
| broken promises about universal access and | | | | learn about and set up a Health Savings |
| quality care. Because there are always | | | | Account (HSA) that best meets your needs. |
| limited resources, single-payer systems tend | | | | Please link to this site when using this |
| to overspend on primary care for the healthy, | | | | article. |