Wednesday, March 8, 2017

"Health Savings Accounts For All!" - Said The Man Behind The Curtain

The man who some, for reasons I’ll never understand call “The Intellectual Leader Of The Republican Party”, was on the tube again today doing his best to pitch the “replace” part of the “repeal and replace” he claims his party has been preaching for the past eight years.

First off, let’s be clear: for 7.9 of those past 8 years, the rallying cry was “repeal”, not “repeal and replace”. But now that Mr. Ryan and his co-conspirators have control of all the levers of power, they’ve been forced to admit that simply repealing what they call “Obamacare” would likely lead to a real, honest-to-God revolution.

Since the election, apparently a lot of dweebs have figured out that their health insurance, obtained at HealthCare-dot-gov, is, in fact, “Obamacare”. And now these Trumpsters have had their “wait a minute” moment, and are beginning the rumblings of discontent about this “repeal” business.

As usual, I digress.

Ryan’s selling as hard as he can, but anyone who’s been around the block a few times knows that the stuff he’s peddling right now will never fly. Their hasty attempt to put some compromise crap together isn’t pleasing anyone except the fat cats that run the health insurance companies.

One of the big features of this new-and-improved Obamacare is the touting of Health Savings Accounts as a huge part of their “solution”. HSA’s for all!!! An HSA for you…and an HSA for you….and one for you.

Let me finally get to the point of this rant, which is Health Savings Accounts.

My wife and I have used the same accounting firm for more than twenty years. We’ve come to be friends with the man whose name is on the door of that company. His firm has more than 700 clients. He told us that of those 700+ clients, exactly ONE has an HSA.

That client is a multi-millionaire.

That’s all you need to know about HSA’s, folks. More stuff for the rich folks, from Ryan and his crew.


  1. Once again, you nailed it! Standing ovation. By the way, I enjoy when you digress. :)

  2. Right on...Right on (doesn't mean you are on the right)...great article and agree, the HSA only makes sense if you have a lot of $$$$$....thank you and great to see this active again...Gary

    1. Thanks, Gary. I'm as independent a cuss as you'll ever come across - no labels for me!

  3. I assume you've read the bill and this is your takeaway on its content. If you haven't read it, you must be operating under the previous administration's standard of "you must pass the bill to find out what's in the bill!"

    And I doubt that HSAs are the mainstay of the bill. I usually look for a little deeper analysis from you.

    1. The post refers to comments made by your pal Ryan, not to the bill itself, which apparently no one has read. I know it's risky to take what Ryan says as non-fake-news, but I did. And he was selling the hell out of those HSA's Jim.

  4. Hey, I'll tell you some interesting stories from the perspective of financial institutions after I retire and/or off-the-record. :)