High Deductible Insurance not available until 2007 in New York State

The High Deductible Insurance / Health Savings Account Plan equation doesn’t balance out. The claim is its “consumer-driven health care.” No third parties.

Then why is it that New York State doesn’t have the plan yet?

Employers can put their employees’ income ‘untouched,’ tax and fica free, in these accounts to meet the high deductible each year. The unused ‘untouched’ income rolls over each year and can even be used like a retirement fund, paying taxes on the non-medical part.

A person with an income of $20,000 who places $1,000 in the health savings account will have a tax benefit of $150. The $1,000 is an above the line deduction (not taxed but fica’d).

All funds have to be in the account of a qualified enrolled High Deductible Insured April 15 or before to count toward the previous tax year.

Lets say New York State gets its high deductible insurance act together by January 2007. For that plan to be effective it takes 30 days. And yet, we don’t have an inkling of what kind of plan they’ve drummed up, just that premiums will be 20 to 25% less. Hmm… is the math wrong here. The normal New York State ‘subsidized’ premiums have a deductible of $500 and cost $280 a month. Sounds like someone’s making money and its not the consumer or consumer driven.

I do not understand why everyone can’t be treated ‘equally’ in this plan. If employers get to place their employee’s money ‘untouched’ into the accounts then so the same should be ‘democratically’ true for an individual.

Why does Congress constantly punish the unemployed?

Why do you need a high deductible insurance premium churning machine behind the health savings account?

Why are you always trying to hose the people who actually work for a living?

I am planning to open a health savings account and put a couple of thousand dollars in each year for my own consumer driven health insurance. Why can’t those dollars be tax free?

Duh!

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