By Tom Quiner
I am self-employed, the owner of a small business. In order to control health insurance costs, my wife and I purchased a policy with a high deductible supplemented by a Health Savings Account (HSA).
The high-deductible policy reduced my premiums substantially.
The HSA allows me to save up to $5000 of tax deductible dollars to be used toward medical expenses, including dental, eyeglasses, and over-the-counter medications.
Because I pay many doctor bills directly until my deductible is reached, I have incentive to shop for the best price on prescriptions and some medical tests. In other words, I am a conscientious consumer of medical products and services.
It makes sense.
Beginning January 1st, ObamaCare will cap my annual contribution at $2500 and will no longer allow me to purchase over-the-counter medications using my HSA (Section 9003). ObamaCare reduces my benefits and raises my costs. It creates a perverse incentive to purchase higher priced prescription medications which are deductible.
This is but one way ObamaCare will raise healthcare costs for middle America.