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POLICY: Did you need more evidence that being poor and sick is bad for your financial health?

No, you’ve seen plenty including what’s being described in various places as my "smackdown" of Medpundit last week. but in case you weren’t quite satisfied, another liberal bleeding heart group (reported by capitalist tools Forbes of all people) has found in a survey of low income people (mostly those in households earning under $35,000) that medical debt is prevalent. Nearly half (46%) have got it, and as little as $500 in medical debt can restrict access to housing, can contribute towards forclosure, bankruptcy et al. Note that more than 40% of those with medical debt had health insurance at the time they ran up the debt. Which means that those Americans who haven’t stashed away their $2,000 for deductibles et al in their HSAs are going to be the road-kill of those driving the HSA/CDHP bus.  But you knew that anyway, right?

The survey is from The Access Point, and the press release is here. The methodology looks sound to me and it back up plenty of prior research about the subject that tells us what we already know.

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6 replies »

  1. California Health Insurance, or Carol for short. You sell insurance so you are automatically limited to 10 lines or you will be banned, sorry. As you know 43% of tax free HSAs had no previous health insurance so uninsured people are getting insured, thank God. Matthew says the plan you sell, BCBS of CA, rated him up 500% because of his bum knee. Is this true Carol? Mathew, I will save American Health Care in 250 words, [[[BUT]]], you have to promise me you will [[POST]]] it along with a link to the [[Only other post of mine that you posted]]. Think of your promise like a contract.

  2. Sorry Matthew, I thought you set me free. Did you see that President Bush wants “Guest Workers” to be mandated to go tax free with HSAs? LOOK://requiring employers of “guest workers” to ensure they will have health insurance, or to require workers to have “health savings accounts.” Cannon said that would cut down on complaints by some states and hospitals about spending on illegals and other immigrants.// You already have a tax free HSA Matthew, so you beat the crowd.
    http://deseretnews.com/dn/view/0,1249,635153445,00.html

  3. Matthew, Dan Perrin who comments here sometimes has great articles on HSAs and some of the HSA/CDHP Bus Drivers. Today is very good. Nina has a great piece from the Heritage but it is over 250 words, that’s for sure. Also, the GM Problems and Red State are good too.
    http://www.hsainsider.com/
    Religion is like sex, you should never know when you are going to get it next.
    I told you about Jerry Zandstra and him running to be Michigan U.S. Senator and Tripod Economics. Good news, he is creating a MOVEMENT and defeating all rivals. Stabenow, beware. Z-Movement is coming.
    http://www.detnews.com/2005/editorial/0511/10/A15-377777.htm
    I over heard President Bush tell his brother Jeb, “I’m not going to endorse Jerry Zandstra until we can get those other losers, Bouchard and Butler to throw in the towel and quit.” Jeb said, “Karl Rove told me that you don’t have to because you are done being President in 2008 when I take over so I should support Zandstra right away with Jack Hoogendyke and Rep. Fulton Sheen.”
    Vote Republican / Vote Bush forever and ever – Amen.

  4. You can argue against math and logic but you will be run over by the HSA/CDHP bus Matthew with nothing left to show for yourself except big fat tire treads on on your face. No one wants that. Lets look at the math Matthew. 43% of all “One Deductible” HSA account holders had no previous insurance. 62% of “RightStart HSA” account holders had no previous insurance. It is clear, *HSAs get uninsured Americans insurance*, period. HSA law requires at least a $1,000 deductible that can pay 100% thereafter, you know that. Even in the old days with a $250 deductible then 20% co-insurance to the next $5,000 would produce an Out-Of-Pocket (OOP) of $1,250. That was 40 years ago in 1965.
    Look at it this way Matthew, $1,000 maximum HSA OOP is smaller than a $300,000 deductible that citizens have when they are uninsured and then get cancer, you know this too. *It’s pure logic and MATH Matthew*. Which will make Americans go broke faster with cancer, $1,000 HSA total OOP (OR) $300,000 that uninsured citizens will owe?
    Think of the consumer for once in your life Matthew.
    Thank you for lifting my 10 line only retriction Matthew. That’s much more fair and balanced.
    The TRUTH is like Katrina, it blows the *LIES* away.

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