HSAs Won't Cure Medicare's Ills

Here's one message from the new "bipartisan" Medicare bill being debated in Congress: low-income elderly people are having a hard time paying for their prescription drugs, so we need...another tax cut for rich people! Today's tax cut for rich people—health savings accounts (HSA)—has been all but lost in the debate about the proposed new Medicare prescription drug benefit, but this wolf in sheep's clothing shouldn't be overlooked. It is bad tax policy and bad health policy.