The following article was posted on, or about, Tue, Dec. 23, 2003 to many of our local newspapers. The link below is to an Ohio paper that was chosen at random from several that were available. If you are interested about how you can obtain affordable healthcare for you and your family at managed care prices this option will probably work for you. Click on my link to IAB then read the rest of this post.

Tax-Free Health Care Accounts Begin January, 2004.
MARK SHERMAN
Associated Press

WASHINGTON - The Bush administration advertised new tax-free health savings accounts, which will be available beginning next week, as a way for Americans to gain greater control of health-care spending.

To escape taxation on both contributions and withdrawals, dollars set aside in the accounts must be spent for medical expenses.

"This account is a good option and available to all Americans. Every year the money not spent would stay in the account and gain interest tax-free, just like an IRA," White House spokesman Scott McClellan said Monday. . . . More . . .

To confirm for yourself the economic facts regarding healthcare read the entire article from the New England Journal of Medicine, Health, Life Expectancy, and Health Care Spending among the Elderly; James Lubitz, M.P.H., Liming Cai, Ph.D., Ellen Kramarow, Ph.D., and Harold Lentzner, Ph.D.

Some excerpts from this article are as follows:

Elderly persons in better health had a longer life expectancy than those in poorer health but had similar cumulative health care expenditures until death. A person with no functional limitation at 70 years of age had a life expectancy of 14.3 years and expected cumulative health care expenditures of about $136,000 (in 1998 dollars); a person with a limitation in at least one activity of daily living had a life expectancy of 11.6 years and expected cumulative expenditures of about $145,000. Expenditures varied little according to self-reported health at the age of 70. Persons who were institutionalized at the age of 70 had cumulative expenditures that were much higher than those for persons who were not institutionalized.

Conclusions The expected cumulative health expenditures for healthier elderly persons, despite their greater longevity, were similar to those for less healthy persons. Health-promotion efforts aimed at persons under 65 years of age may improve the health and longevity of the elderly without increasing health expenditures.

Again, I invite you visit IAB and utilize your options for a privately contracted agreement with your local community bankers.