The Unsung Promise of Health Savings Accounts

Michael Cannon, Director of health policy studies at the Cato Institute and an expert on health savings accounts, delves into the transformative potential of HSAs in American healthcare. He explains how these accounts empower individuals to make personal healthcare choices, shifting power from employers. Cannon also highlights the tax advantages and flexibility of HSAs as savings tools. He shares a California experiment that showcased how HSAs encourage cost-conscious behavior among patients, leading to increased competition and lower healthcare costs.