An Investors Business Daily editorial by famous surgeon and conservative, Ben Carson.
Excerpt:
Health savings accounts can be funded in a variety of different ways and give people total control of where, how and with whom they wish to spend their health care dollars. Most people will want to get the biggest bang for the buck and will independently seek out both value and quality.
That, in turn, will bring all aspects of medicine into the free-market economic model, thus automatically having an ameliorating effect on pricing transparency and quality of outcomes.
Many corporations and communities already have very positive experiences with HSAs. Those experiences could be further enhanced by allowing family members to shift the money in their accounts among themselves.
For instance, if a family member was $500 short for a procedure or test, another family member could provide the money by authorizing its deduction from his account. This provides a whole other level of flexibility to the concept of health savings.
The overwhelming majority of encounters with the medical world could be handled through this type of system, eliminating bureaucratic delays and frustration.
Under ObamaCare’s many rules, the amount of money allowed to be managed through health savings accounts is severely restricted. Perhaps that is because the crafters of this gigantic, bureaucratic monstrosity realized that a well-functioning savings system would be easy to understand, much less expensive and give people control of their own health care.
It would also eliminate two-tiered systems of health care, making every patient equally desirable from a business perspective. There should be no limit to the money that can be contributed to and managed in an account. Money unspent at year-end should simply accumulate without penalty.
If accounts are established at the time of birth, they will be even more potent, because the vast majority of people will not experience catastrophic or major medical events until well into adulthood. By that time, a great deal of money will have accumulated.
Since bridge or catastrophic insurance will not be drawn upon for routine medical expenses, its costs will plummet, very much like homeowners insurance, which costs vastly less when there is a high deductible.
Somehow over the past few decades, we as a society have wandered away from the concept of using health insurance only for major medical issues and paying for routine service ourselves. This is largely responsible for the tremendous spike in medical costs. By using HSAs, we can return to a semblance of rational thinking.
I think it’s important for us to be aware that increased government control of health care is not the only approach to reducing health care costs. In fact, my view is that health care costs have been rising precisely because the government has been so involved in controlling the health care industry.
WINTERY KNIGHT 
We have an HSA (used to be an FSA, the main difference being that the FSA monies couldn’t be carried over year to year, unlike an HSA), and it’s a good thing. Every year we estimate appx. how much we expect to spend on things we can predict and then estimate emergency expenses based on previous experience. For example, we have two young kids who are starting school in the fall, so I expect that they’ll probably get sick a bit more than usual, and we’ll take that into account when we plan for the coming year. We know our normal prescription costs and what the occasional sick visit to the local clinic costs, as well as our family deductible for the year, so we can plan accordingly. We always include extra for the surprises, too.
Our insurance doesn’t offer co-pays for us when it comes to doctor visits and prescriptions. We pay a reduced price, but it still runs about $100 per doctor visit (excluding wellness care, which is covered at 100%) and scripts all over the place. Since the HSA is taken out pre-tax, this offers us a bit of savings when it comes to out-of-pocket expenses.
Having the FSA/HSA has definitely made us much more diligent about cost comparisons for our medical expenses. I’ve found huge savings by switching pharmacies, for example. I never bothered shopping around when I had a co-pay. We don’t run to the doctor for every little thing, but we know that when we do go, there’s money in an account for that purpose. I also know that I can comparison shop for things like drugs and vision and dental care, and get a good deal without necessarily compromising on quality, and since certain aspects of quality are subjective, as the patient I’m the one best prepared to make that determination. Price isn’t always the bottom line, but it’s certainly a consideration.
I don’t see how enabling citizens to keep their own money with the caveat that they use it to care for their own needs is anything but fair.
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