Why Florida HSA?
Florida HSAs certainly seem to be a different type of health care plan, working quite differently than traditional plans. The very existence of HSAs raises the question of why they are necessary. Many who already have employer-provided health insurance may have the attitude of ýif itýs not broken, donýt fix it.ý
However, the health care system in America is arguably broken. If ýbrokený is too strong a term, then most would at least agree that the system has room for improvement. Florida HSAs work to combat some of the perceived problems inherent in the current health care system.
First, Florida HSAs are designed to combat the rising costs of health care by giving providers an incentive to make care cheaper. If consumers are actually making decisions about how to spend their own money, they are more likely to choose the best value ý or the best care at the best available price. Consumers are far less likely to factor in cost when they are paying the same premium and co-pay no matter where they choose to receive care.
Recent trends in health care coverage that have shifted costs from employers to employees also give consumers a vested interest in finding ways to make health care cheaper. To that effect, an HSA eliminates the insurance company middle-man to an extent, and thereby eliminates subsidies that are inherent in the traditional insurance system.
Florida HSAs are also effective at giving choice back to the consumer. They reward consumers for efficient management of their health care expenses, and allow them to take control of how their health care dollars are allocated. Florida HSAs also allow consumers a method for lifetime savings to pay for medical expenses. Finally, Florida HSAs make health insurance start to look more like other types of insurance, such as automobile or homeowners insurance, with costs that are more in line with these insurance types as well.