Thursday, August 9, 2018

EBA whiffs it - Again

So the rocket surgeons at EBA (which, ironically, touts "benefits" in its very title) continue to double-down on the stupid:

"Here�s one option advisors can help them explore: health savings accounts. These accounts, which are offered in combination with high-deductible health insurance plans"

First of all, they keep conflating "High Deductible Health Plan" with "HSA-compliant" plan, thereby confusing laypeople (and irritating us pro's). As we pointed out on Monday:

"[U]ntil the age of ObamaCare, HDHP's meant HSA-compliant true Catastrophic coverage, no bells or whistles, just policies that paid for the truly disastrous claims (think cancer or brain surgery, for example)."

And second, they seem oblivious to the fact that HSA contributions are down for a very good reason: with premiums and out-of-pockets continuing to soar, who the heck has extra cash laying around to put in the account?

They even offer proof of this in their article:
[click chart to embiggen]

So, a 1,000 words in self-rebuttal.

Nice job, guys.

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