Here is a letter from the Governor of Indiana explaining why HSAs are the common sense solution to reducing healthcare costs.
(Click the pic to view article)
Indiana Governor Mitch Daniels outlines HSA savings for state employees
I have mentioned the city of Iola, Kansas many times before. They switched to HSA qualified plans for all their employees back in 2004. It’s amazing the change in behavior when people have a vested interest in not spending their healthcare dollars. Since HSA accounts are owned by each employee and balances roll over from year to year, they are spent much more judiciously. This naturally translates into lower utilization. The city of Iola is spending LESS now on health insurance costs than they were back in 2004.
We need to allow CONSUMERISM to reform healthcare… NOT Washington Bureaucrats!
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