HSAs May Be Health Care's Remedy

In fact, Hurley is advising younger workers to turn down employee-sponsored plans in favor of these inexpensive HSA policies. He notes that with company plans, if you lose your job you'll be stuck with an expensive, temporary-coverage Cobra plan. And if you have a pre-existing condition, you may not find health insurance when Cobra runs out. An individually owned HSA is tax-advantaged, secure and portable.

The real benefit to our society is that HSA incentives encourage people to spend their health dollars wisely -- because it's their own money.

That's why companies such as Fontis Healthcare Services are creating online wellness tutorials for employees in the plans they distribute. Workers who participate can earn extra HSA contributions from their employer. Says Fontis CEO James Smith: "The huge problem of spending 15.8% of our GDP on health care can only be solved by reducing the demand for health care in America. And the way to do that is to get people incented to lead healthier lives."

The government is not the solution. That's been tried in Canada, where its Supreme Court recently ruled that the long lines generated by a state-sponsored health system inherently violate their guarantees of human rights. Their court said private health insurance plans must be allowed to compete.

Maybe it's time to try individual incentives to stay healthy. We'll all be better off. And that's the Savage Truth.