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June 07, 2006
Libertarian party supports Health Savings Accounts
The U.S. needs to find a solution to the health care crisis, but more government is not the answer, says Patrick Wilbur, the Libertarian candidate running for Kansas state insurance commissioner.
Wilbur says the current insurance commissioner, Sandy Praeger, has promoted health savings accounts as a way to help people manage their health insurance costs, and he will continue encouraging people to start HSAs if he is elected.
“Eventually, I’d like to see government entirely out of the health insurance business, but this is a great first step,” he said.
Wilbur says he would also support tax credits for people who start health savings accounts.
HSAs, which must be tied to a high-deductible medical insurance policy, allow people to earmark money for major medical expenses in the same way that holders of individual retirement accounts save money for retirement. HSAs have been legal in Kansas for about two years.
Wilbur believes that a free-market strategy, in which businesses and people take responsibility for their financial affairs and accept the consequences of their decisions, is the best way to solve the state’s health care crisis, according to a Nov. 21, 2005, news release announcing his campaign. He contends that giving state and federal government increased control of the medical and insurance industries will cause a steep increase in administrative costs.
Generally speaking, libertarians support a free-market economy, civil liberties, and personal freedom and responsibility.
Wilbur is the vice chairman of the Kansas Libertarian Party and a project director for the Lawrence office of Pearson Government Solutions, a company that designs, builds and operates governmental systems and services. Two years ago, he ran for the 45th District seat in the Kansas House but lost to Republican Rep. Tom Sloan.
Wilbur said he decided to seek the insurance commissioner’s office in part because he believes the health care crisis is getting worse.
“Especially with the Medicaid crisis we have in Kansas,” he said. “It’s a huge part of our budget right now, and it’s just going to get larger and larger. And I don’t see anyone doing anything about it.”
He said he hopes his campaign will help raise his party’s profile across the state.
Besides Wilbur, the candidates for insurance commissioner are Praeger, who is seeking her second term; Republican Rep. Eric Carter of Overland Park; and Democratic Rep. Bonnie Sharp of Kansas City, Kan.
Learn more about Health Savings Accounts.
Posted by Wiley Long at June 7, 2006 09:24 AM
Comments
I'm curious what the readers' opinion is on
discount health plans such as e-healthplus.com
What is their role in further reducing the cost
of healthcare beyond the high-deductible insurance and
the HSA? Can their premiums and discounted
costs be taken out of the HSA legally?
Posted by: Katterine at August 23, 2006 10:46 AM