The Best Innovations are poorly understoodby admin on 04/29/2019 9:37 PM
Health Savings accounts were proposed in the last decade or so. Although a number of businesses have used these for their employees, they were poorly understood. We have felt that the combination of a savings account with the desperation of healthcare costs was the reason for the lack of understanding.
We think that high deductible health plans (HDHP) can stand on their own without the addition of a savings account as long as the insured person understands the old concept of paying for one’s own office calls and outpatient costs which should normally be less than the money saved.
We understand that many insurance companies no longer promote this type of coverage for business reasons (diminution of profits). We also find it difficult to research cost-analysis. Insurance companies don’t want to let average costs be widely disseminated. Hence one must go through one of their agents who is focused on selling you a policy. This converts a moment of time to a full insurance presentation which may take 30 to 45 minutes. However, doing inquiries in our office, it is apparent that patients could save more than half of their health care costs. This has to be balanced with the fact that most patients are sheltered from their health-care cost by the employer paying for it—third party payment only leads to increase costs which are frequently unnecessary health care.
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The majority of alleged innovations do NOT improve healthcare.
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