Why We Need Medical Savings Accounts

Positive Experience with Medical Savings Accounts in Singapore

“…1 TTiis has attracted policymakers' attention in the United States and in other countries. In fact, a mandatory MSA program has financed personal health care expenditures in the Republic of Singapore since 1984.…”

Charges for Medical Care at Different Hospitals

“…In particular, many have claimed that greater consumer involvement would raise cost-consciousness and promote efficient medical services. [44][45][46][47] However, our data suggest that asymmetries of information and other market imperfections are sufficiently large that other reforms might be required before consumers could generate appropriate market forces. These findings raise concerns about proposals, such as medical savings accounts and point-of-service plans, that encourage individuals to pay directly for medical care.…”

Revenue Streams and Clinical Discretion

“…Various possibilities are available for bringing patients into some contact with the costs of care. Discussed elsewhere, they range from medical savings accounts to points‐systems that reward patients who consider the economic as well as the medical wisdom of the care they request 94–96 . These incentives need not create financial barriers to care; rather, they need only to reward patients for bringing prudence into their conversations with physicians.…”