HSAs May Be Health Care's Remedy

America spent more than $1.9 trillion on health care in 2004, representing about 16% of our nation's gross domestic product -- nearly double what most industrialized countries spend. Health care spending has been growing at more than twice the rate of inflation.

American households spent a record $236 billion in 2004 on out-of-pocket medical expenses, including co-payments and deductibles. And of course, many households -- more than 40 million Americans -- have absolutely no health insurance.

No financial issue in America, including budget deficits, trade deficits and potential stock market declines, has the potential to so completely undermine our economic system. Our future depends on finding a solution. Health savings accounts, which are expected to be a major topic of President Bush's State of the Union address tonight, could help provide a cure for this health crisis.

How We Got Here

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