Nathan Newman, citing a New York Times article, points out that besides being bad policy, HSAs will be a bonanza for the financial institutions that will be managing the accounts. Of course, this is par for course, and eerily similiar to the way Medicare D was written on behalf of the pharmaceutical and insurance industries.
That’s what you get I guess with our current system of legalized bribery (ie. lobbying). It is interesting that the insurance industry, which gives heavily to the GOP, may be losing out to the banks on this one.
Bush didn’t spend much time in his State of the Union discussing healthcare, so I have no idea what he’s planning to do for this huge domestic issue. HSAs may or may not be a good idea as supplemental insurance (there’s a good economic/equity argument against it by Cindy Zeldin) but they certainly shouldn’t replace traditional health insurance!
Ezra Klein explains how “[Bush's] last minute retreat from a confrontation on health care was a final admission of weakness.”
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