The ink was barely dry on Justice Roberts’ ObamaCare surrender before news spread of a new Health and Human Services (HHS) Department rule that threatens to destroy nearly 50% of the Health Savings Accounts (HSA) market.
Over 12 million Americans enjoy the benefits of HSAs but five million could see their accounts closed by the HHS’ “Medical Loss Ratio” rule which discriminates against individual and small business issued policies. These policies would be disqualified for the ObamaCare health care exchanges if the rule goes into effect.
It’s hard to believe that HSAs are not specifically being targeted because they offer a proven alternative to the government-knows-best world of ObamaCare. HSAs are the only true alternative to the brave new world of health care policy directed by bureaucratic dictates.
President Obama made many promises about ObamaCare. It would reduce the debt. It would lower the price of health care. And, of course, if you wanted to keep your plan, you could. We know the debt won’t be reduced. We know the cost of health care has gone sky-high. And we now know that if you have a small business or individual HSA plan, you won’t be about to keep it.
Congress must intervene to save HSAs before the upcoming election. We cannot risk HSAs on the gamble that Mitt Romney wins and succeeds in repealing the law.
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