Very rarely does something come out of Washington that actually works.  Even more rare is something that works and is a benefit to the population.

I'm referring to Health Savings Accounts (HSAs).  I'm a fan.  Not only are these good for chiropractors, I believe they are good for chiropractic.

If you are not familar with HSA's, here's how they work. 

• You contribute money into the HSA on a pre-tax basis, just as you would an IRA or 401K plan. 
• The HSA is coupled with a high-deductible, catastrophic care health insurance policy. 
• When out of pocket health care expenses arise, you use the money in the HSA to pay them.  T
• he money in the HSA accumulates if not used and can be an additional nestegg during retirement.

Why does this make sense for chiropractors? 

Chiropractors are generally healthy people and do not use the healthcare system like the average consumer.  As a result, most of the time, the deductibles on traditional healthcare policies are not met.  So by buying the high-deductible plan, you save money on the premium and have coverage in place for the big stuff, should they occur.

Meanwhile, money is being saved in the HSA to take care of any out-of-pocket expenses.  Which is why I think this is good for chiropractic. 

HSAs put the healthcare dollar back in the hands of the consumer.  When consumers are paying the out-of-pocket expenses associated with the high-deductible health plans, they will seek out the best value.  And guess what?  Chiropractic is the best healthcare value available.

The benefits of HSAs and high-deductible health plans go on and on....it's a more affordable way to have coverage for your family, you can offer the plans as an employee benefit, etc.

First enacted by Congress in 2003, HSAs work well and I think they are a step in the right direction when we look at healthcare costs.

Hopefully, Congress won't screw it up.