Feeling Safer Yet?
Jan 27th, 2006 at 7:22 am by Susie
I feel a lot better, knowing this makes Wall Street so happy:
When it comes to medical benefits, millions of Americans already have a health insurer. Soon, many will also have a debit card and a bank tied to their medical plan.
Banks, credit unions and money management firms are now quietly positioning themselves to become central players in the business of health care, offering 401(k)-type accounts to cover future medical expenses.
Bank of America, J. P. Morgan Chase, Fidelity Investments and hundreds of others are hoping to capitalize on the latest wrinkle in medical care paid by consumers: health savings accounts, which have been around since 2003 but are moving to the fore of the national agenda in anticipation of the State of the Union address on Tuesday.
These supercharged checking accounts, which must be linked to a high-deductible health insurance plan, allow consumers to invest their own money for current and future medical expenses and have it grow tax-free.
I hope there’s a stink over this that overshadows the shitstorm from BushCo’s attempts to screw Social Security. Why, already that radical rag, The Economist, is attacking the plan.
