Health Savings Policy Essay

Health Savings Accounts policy refers to a medical saving account that is tax protected under the tax provisions of the United States (Health Savings , 2016). In other words, funds that are channeled to this sort of account are not subjected to taxation by the Federal government at the point of deposit. Consequently, the funds in the savings can continue to accumulate from one year to the next. As a show of equity, this account is aimed at individuals whose health premiums are highly deducted. As a result, its beneficiaries can utilize the money in their accounts while paying their health expenses that are authorized. However, it is imperative to note that the owners of these accounts can be subjected to legal actions is they use these funds for reasons that are

It also helps to significantly reduce the cost of healthcare services. By so doing, it ensures that the American healthcare system is efficient. This can be best explained by the fact that healthcare consumers are now not limited to accessing Medicare services since they can now choose several avenues that are readily available. Moreover, consumers are not limited by a health care gatekeeper deciding what medical care they can have access to. By lowering the cost of healthcare services helps many people to access the available healthcare services thus guaranteeing efficiency and equity. However, those who oppose this claim that it is most likely to hold back the American healthcare system by depriving it funds. Another thing about this policy is that its efficiency is guaranteed. This is apparent since the individual users have complete access as well as control to their accounts and the relevant assets. These accounts are easily portable since individuals can continue to pay for preventative and qualified expenses while being exempted from tax obligations even if one loses their health