• Health Savings Accounts: Fueling the Consumer-Driven Health Plans Fire
  • January 31, 2004
  • Law Firm: Seyfarth Shaw LLP - Chicago Office
  • In the Medicare Prescription Drug, Improvement and Modernization Act of 2003, Congress created health savings accounts (HSAs) as new Internal Revenue Code section 223. Employers can now cut health care costs by offering employees a high deductible health plan design combined with an HAS. The goal of this plan design is to make participants more cautious health care consumers and thereby reduce health costs.