The editorial page of the Wall Street Journal has sounded the alarm about a bill proposed by Sen. Harry Reid, D-Nev., a bill that could cripple consumer-driven healthcare saving accounts plans. According to the editorial, not only does the Reid bill change the tax provisions to make HSAs less desirable, but its regulations threaten the very existence of the savings accaounts that have given consumers a more active role in managing their own spending on health.
For the many Americans who choose to purchase a high-deductible, major medical plan but with the opportunity to put aside tax-free dollars to be used toward deductibles or other medical expenses, maintaining access to HSAs is clearly an issue of freedom of choice issue. HSAs also make healthcare less susceptible to political control. Tell Sen. Reid to leave HSAs alone!