2 PARAGRAPHS 4 LIBERTY: #177 “MEDICAL SAVINGS ACCOUNTS”

    With programs like the so-called Affordable Care Act and proposed single payer systems, we are well on our way to having our healthcare managed by the equivalent of the Department of Motor Vehicles.  This reality was stated succinctly by P.J. O’Rourke, who said “If you think our healthcare is expensive now, wait ‘til it’s free.”  So what is the alternative?  Health Savings Accounts, which are based upon two timeless truths.  The first is that people get the best results at the greatest value when they spend their own money upon themselves.  And the second is that the best healthcare results also occur when patients become active partners with their healthcare professional in addressing their own healthcare needs. 

     So how do Medical Savings Accounts work?  The majority of people in our country do not need the government’s “assistance” in healthcare.  So get the government out!  Instead, each of us who has the financial ability will place $5,000 into the equivalent of an ATM account at the beginning of each year.  Then this account would first be used to purchase catastrophic health insurance on the open market, which would basically be health insurance with a $5,000 deductible minus the cost of the premium.  Then for the remainder of the year this account would be used to pay for all healthcare goods and services.  So under this system, we would be spending our own money directly to our chosen healthcare professionals, pharmacies, etc. without any bureaucracy or red tape.  Since most studies show most adults pay less than $4,000 per year for their healthcare needs until they approach the end of their lives, these accounts would be sufficient for all of those needs. As for those people who could not afford the entire $5,000, they could receive government vouchers on a sliding scale to make up the difference and then be involved in the same system.  Then any money left over at the end of the year would be rolled over into next year’s account, and all monies in the account at age 65 could be used for retirement.  So people would always have an incentive to spend their healthcare money wisely.  Result?  Increased competition and virtually no bureaucracy, which will, in turn, serve to increase both quality and value in our healthcare.  In other words, once again, Liberty works far better than government.

                                                                      

Judge Jim Gray (Ret.)

2012 Libertarian candidate for Vice President, 

along with Governor Gary Johnson as the candidate for President

Quote of the week: “I have not failed.  I have discovered 10,000 ways that don’t work.”  Thomas Edison

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