Health Savings Accounts Can Be Good Deals
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Just when I thought politicians couldn’t demonstrate more ignorance or arrogance, Insurance Commissioner John Garamendi thinks health savings accounts are bad for us (“Insurance Chief Criticizes Health Savings Accounts,” Aug. 3).
I don’t think so. My family was paying $1,200 a month in premiums for a preferred-provider plan under COBRA. We moved to a health savings account plan with a family deductible of $4,800 a year and a $400-a-month premium.
Even by funding the entire deductible by contributing $400 a month to our HSA, we still pay a maximum of $800 monthly for 100% coverage without the restrictions of a PPO. This is without even counting the tax benefits of a health savings account.
Jeff Miles
Venice
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This last ditch, politically motivated disinformation campaign against health savings accounts is destined to fail for two main reasons:
1. The skyrocketing cost of traditional health coverage will compel rational changes, such as consumer-directed healthcare and health savings accounts.
2. A single-payer healthcare system would require almost $100 billion in new taxes each year in California alone.
Dr. James G. Knight
CEO, Consumer Directed
Health Care Inc.
San Diego
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