Tuesday, 21 February 2006
Managing Health Savings Accounts A Daunting Task
Health Savings Accounts (HSAs) are designed to put consumers in control of their healthcare spending. Problem is, consumers may not be ready, or have enough information, to really take charge, reports the New York Times.
With little to guide them, consumers might find managing their healthcare finances solo a challenge. Insurers and hospitals largely keep the lids on the prices of treatments and services, forcing individuals to blindly hand over their healthcare dollars.
Leading insurer Aetna is making efforts to make healthcare transparent, allowing their members to access an online database that sheds some light on costs of procedures to prescriptions.
Aetna members still only have limited access to information on specific hospitals and doctors, and savings are not clearly outlined.
Until the industry shifts to expose the true costs, consumers won’t find managing their health insurance dollars an easy task.
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