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September 15, 2005
Health Savings Accounts Promote Consumerism
The purpose of healthcare is to make sick people better, and to reduce the incidence of disease - to make people healthier. Those who do the best job at this should be rewarded the most. This is where Health Savings Accounts (HSAs) come in.
The only real judge of who is doing the best job at this task should be the consumers. By voting with their dollars, consumers reward the producers - whether it be for autos, computers, or french fries - that provide the best value. In a competitive marketplace, consumers will patronize those businesses that serve them well, and avoid those that don't.
Consumerism has been sadly lacking in the healthcare arena for many years, and it shows. One example is prescription drugs. Pharmaceutical companies control medicine more than ever, yet few people pay for their own drugs. Instead, drugs are mostly paid for by insurance companies or the government. The result is a flood of high-priced drugs on the market, many with no proven benefit over lower priced, older generic drugs.
As consumers begin to assert their power through their own decision making, driven by the adoption of Health Savins Accounts by thousands of families across the country, the system will slowly begin to change. Those companies that offer the best value will be those that will be rewarded.
Posted by Wiley Long at September 15, 2005 10:52 AM