With many U.S. hospitals looking down the barrel of Cadillac tax payments by 2022, if not sooner, the flexible spending account may soon vanish as a benefits option, a survey by Cammack Health found. The study said that, given annual plan value increases of about 6 percent, most of those surveyed said they would trigger the Cadillac tax on “rich” plans by 2022. Because flexible spending accounts add to a plan’s value, many said they would likely drop the option.
A new report released by the Centers for Disease Control and Prevention shows that the number of uninsured Americans under age 65 has decreased by more than one-third. The report also looked at the percentage of persons with private health insurance coverage enrolled in an HDHP without an HSA or in a consumer-driven health plan.
High-Deductible Health Plans Not Satisfying Customers
High deductible health plans are health insurance plans that try to strike a balance between affordability and usability. With an HDHP, you keep your premiums down by accepting a higher annual deductible. However, a recent study by the Kaiser Family Foundation implies that those with HDHPs are less satisfied than other health care consumers and are questioning the value of an HDHP. The discrepancy relates to the overall rating as well as the value.
Busted: The Liberal Claim You're Too Stupid to Make Health Care Decisions
A new consumer survey from Deloitte’s Center for Health Solutions has already received a lot of attention for finding that only 30 percent of people are satisfied with their Obamacare coverage. But the survey includes another important finding that undermines everything liberals have claimed about health care for years: The report claims that Americans are becoming better consumers in the health care marketplace.
Maximize an HSA to Fund Medicare and Other Health Expenses
An effective retirement planning strategy is to maximize an HSA's ability to provide tax-free funds for Medicare and other retirement health costs. Here's how the strategy works: The account holder makes the maximum annual contribution to the HSA and keeps the funds in the account rather than withdrawing money on a routine basis for health care expenses. This allows the balance to grow and accumulate tax-free year over year.