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Medical Savings Accounts: Windfalls For The Healthy, Wealthy, And Wise, Regina T. Jefferson
Medical Savings Accounts: Windfalls For The Healthy, Wealthy, And Wise, Regina T. Jefferson
Scholarly Articles
This article analyzes the Medical Savings Account (MSA) program, and critiques its impact on the retirement and health care systems. The MSA program is an experimental health care program created by The Health Insurance Portability and Accountability Act of 1996. The program allows a limited number of small employers and self-employed individuals to establish MSAs during an experimental period. MSA funds may be used for medical expenses, or carried forward and accumulated tax-free as retirement savings. The underlying purpose of the MSA program is to reduce the cost of medical care by providing consumers greater incentives to be sensitive to …