Tick Tock goes the Health Insurance Company Death Clock
Given the HHS Secretary’s statement before Congress that the private health insurance market is in a “death spiral,” this op-ed by former Obama health advisers predicting the end of insurance companies is given enhanced credibility.
Here is how the HSA Coalition and Freedom Works Amicus brief described the implications to the U.S. Supreme Court:
…In January 2012, former advisors to the Obama Administration warned of the impending continued loss of autonomy and liberty in this area. They predicted that the American health insurance industry will be extinct by 2020 and will be replaced by “accountable care organizations.”10 Ezekiel J. Emanuel & Jeffrey B. Liebman, The End of Health Insurance Companies, The New York Times (Jan. 30, 2012) [Emanuel & Liebman]. According to these former advisors, with the advent of accountable care organizations “a new system is on its way, one that will make insurance companies unnecessary” and “health insurers superfluous.” Id. The “final bonus” they argue is that accountable care organizations will relieve consumers of the need to choose among insurance plans, because these are choices “that few of us are any good at making.” Id.
Without a HSA qualified health plan, there are no Health Savings Accounts.