Sunday, January 29, 2006

 

HSAs: The old bait-n-switch

Speaking as one CEO to others, here's the advice that that Stevan Garcia (CEO of United Health Care) offers on how to work the shell game on on employees, via the Feb. 2006 issue of Columbus C.E.O. magazine:
[HSAs] can reduce an employer's cost, though employees may bear a higher share of individual health care costs.

[. . . ]

[An HSA] can be part of a long-term strategy that replaces traditional coverage completely. Employee and employer expectations need to shift . . .

[. . . ]

The key to success is educating employees so they understand that this is not a cost-shifting program, but a benefit to all.
So, just lie. The key, apparently, is just to be convincing when you lie about how the HSA isn't really about about shifting the cost or abandoning the traditional health insurance plan. But, hey, when you're speaking to other CEOs, why not be honest?

Social Security privatization and HSAs are two sides of the same coin, and they are both based on fleecing the middle class, the poor and the elderly.

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