Finding Affordable Health Insurance

Congress should to move toward providing access to guaranteed health insurance coverage to all Americans rather than expanding access to high-deductible health plans tied to health savings accounts that provide little benefit to low-income Americans and those needing the most care, according to a written statement prepared by Consumers Union for the U.S. House Health Subcommittee on Ways and Means.

The release cites a study by the Government Accounting Office finding that people with Health Savings Accounts (HSAs) in 2005 had an average adjusted gross income of $139,000 compared with $57,000 for other filers.

It is unfortunate that current tax policy encourages the creation of a fragmented health insurance market by making contributions to health savings accounts tax deductible. What we need to do instead is find new ways to broadly spread the risk health insurers take on so that costs will be affordable for those consumers who are at highest risk of medical problems and incur the greatest expense. Finding cheap health insurance is not an easy task for those at the highest risk of medical issues.