I Predict This Is the First of Many
nHealth, a Richmond, Va.-based insurance company that specializes in HSA-qualified high deductible health insurance plans, will be closing its doors due to the regulations imposed by the new health care reform law.
See full story here. HT to Greg Scandlen.
I’m afraid this is the first of many.
The new health care provisions do not outright kill arrangements like Health Savings Accounts (HSAs). However, I suspect the law was written in such a way as to cause HSAs to wither on the vine. Proponents of health reform have never been fans of HSAs because they do not believe consumerism has any place in medicine.
The real question is: Will there be any private insurers left after Obama Care is fully phased in?
It seems like the government wants to lower deductibles and co-pays, for fear of fiscally strapping Americans.
Even the Medicare donut hole will be methodically closed, with the government providing $250 rebate checks to those entering the abyss this year.
By 2020, no more donut hole.
My rabbi wrote a book entitled “Focus on the Bagel, Not the Hole.
I guess this wisdom won’t apply to Medicare donuts in 10 years.
Don Levit