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Originally Posted by flstf
This doesn't look good for the new HSA (Health Savings Accounts) business, where you put money away each year (untaxed) to be used for healthcare combined with a very high deductible insurance plan (some as high as $10,000). If you do not pay close attention to what you get charged for medical/dental services you can go through your savings rapidly. I think the idea of these accounts is great but how do we shop for the best prices/service?
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Hopefully such a scheme will lead to more price competition between providers.
But really, when you go to a doctor, that doctor knows so much more about what is wrong with you and how much it should cost than you do it isn't funny. Plus you are often extremely desperate to get the problem fixed (be it cancer, a heart attack, or anything else), I doubt you'll be doing all that much price shopping.
On the other hand, possibly having way more people buying health care with 'their own money' will change the incentives for health care providers enough.
This HSA does have the effect of encouraging Americans to save more, as does scaring people about the state of social security. I'd suspect most people's HSA will rapidly evaporate shortly after you get your first serious illness. The net effect of increased savings, however, will possibly have a net benefit to the US economy, especially given the current dismal rate of US saving.
A private health care system also has the effect of scaring people into being more productive. "Not dieing" is a good incentive to get rich.