By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Health Works CollectiveHealth Works Collective
  • Health
    • Mental Health
    Health
    Healthcare organizations are operating on slimmer profit margins than ever. One report in August showed that they are even lower than the beginning of the…
    Show More
    Top News
    health benefits of taking a vacation to reduce stress
    Relaxing European Destinations to Reduce Stress Risks to Health
    October 11, 2021
    pain management tips
    Managing Pain Differently: Alternative Pain Management Techniques
    January 12, 2022
    5 Ways to Promote Wellness in Your Home
    April 12, 2022
    Latest News
    What To Expect On A Meditation Retreat In Miami
    February 6, 2023
    Botanical Extracts That Should be on Your Health Radar
    February 5, 2023
    Navigating Medical Care as a Wheelchair User
    February 4, 2023
    4 Common Myths and Misunderstandings About Brain Injuries
    February 5, 2023
  • Policy and Law
    • Global Healthcare
    • Medical Ethics
    Policy and Law
    Get the latest updates about Insurance policies and Laws in the Healthcare industry for different geographical locations.
    Show More
    Top News
    Kratom – a Solution for Opioid Addiction?
    February 5, 2021
    English: U.S. President delivers the while sta...
    Obama to Congress: Quality, not Quantity of Care
    February 13, 2013
    Is The Future Of Injectable Drug Delivery In Needle-Free Devices?
    February 16, 2021
    Latest News
    Why Is a Referenced Based Pricing Tool Necessary?
    February 3, 2023
    Simplifying the Genetic Testing Process: How At-Home Kits are Changing the Game
    January 25, 2023
    9 Hospitals That Have Introduced Green Initiatives
    February 1, 2023
    Why a Health Retreat Can Be the Best Medicine
    January 12, 2023
  • Medical Innovations
  • News
  • Wellness
  • Tech
Search
© 2023 HealthWorks Collective. All Rights Reserved.
Reading: Health Savings Accounts: Ten Years On
Share
Sign In
Notification Show More
Latest News
meditation retreat
What To Expect On A Meditation Retreat In Miami
Health
Guide To Pursuing a Career in Nursing as a Foreigner in the USA
Guide To Pursuing a Career in Nursing as a Foreigner in the USA
Career
Botanical Extracts
Botanical Extracts That Should be on Your Health Radar
Health
Navigating Medical Care as a Wheelchair User
Navigating Medical Care as a Wheelchair User
Health
common misconseptions about brain injuries
4 Common Myths and Misunderstandings About Brain Injuries
Health
Aa
Health Works CollectiveHealth Works Collective
Aa
Search
Have an existing account? Sign In
Follow US
  • About
  • Contact
  • Privacy
© 2023 HealthWorks Collective. All Rights Reserved.
Health Works Collective > Policy & Law > Public Health > Health Savings Accounts: Ten Years On
Policy & LawPublic Health

Health Savings Accounts: Ten Years On

Greg Scandlen
Last updated: 2013/12/20 at 9:11 AM
Greg Scandlen
Share
4 Min Read
health savings account
SHARE

On a wintry Monday night in Washington, about 70 people gathered at a banquet to celebrate the tenth anniversary of the signing of Health Savings Accounts into law.

On a wintry Monday night in Washington, about 70 people gathered at a banquet to celebrate the tenth anniversary of the signing of Health Savings Accounts into law.

health savings accountFittingly, the dinner, organized by the National Center for Policy Analysis (NCPA), was held in the O’Byrne Gallery of the DAR’s Constitution Hall where President Bush signed the law on December 8, 2003.

Represented were many of the people who conceived of the idea in the 1980s, the policy staff and legislators who enacted the first Medical Savings Accounts (MSA) law in 1996, the entrepreneurs and regulators who took the concept and created Health Reimbursement Accounts in 2002, and the companies who have turned the law into the products and services that benefit tens of millions of people today.

More Read

HR staff must deal with divisive views in healthcare

HR Must Navigate Polarizing Views in Healthcare Workplaces

6 Tips for Getting Into Medical School
Do You Need Life Insurance? What Does It Cover?
5 Ways New Technology is Revolutionizing Health
Are your Health Workers Properly Protected?

NCPA President John Goodman, who is often referred to as “the father of HSAs,” and I opened the commemoration with a tribute to the late J. Patrick Rooney, Chairman of Golden Rule Insurance, who did more than anyone else to popularize the idea and shepherd it through the legislative hurdles. 

Brian McManus and Darryl Ritchie, who worked closely with Mr. Rooney, were on hand to discuss how hard he worked to keep the MSA proposal bipartisan, recruiting Democrat co-sponsors such as Representatives Andy Jacobs and Richard Gephardt, and Senators John Breaux and Tom Daschle.

Dr. Reyn Archer, the son of Rep. Bill Archer, former Chairman of the Ways and Means Committee, remembered how his father negotiated with Senator Ted Kennedy to include MSAs in other legislation. And former Senator Phil Gramm recalled how the bipartisan support fell apart over President Clinton’s attempt to enact sweeping health reforms.

Kyle Rolfing and Dr. Mike Parkinson, formerly of Definity Health and Lumenos respectively, spoke of taking the MSA concept a step further after the collapse of managed care in the late 1990s. They found a way to apply the idea under current tax law and sell it to large corporations. They found a receptive audience in the Bush Treasury Department, according to Bill Sweetnam, which termed the effort Health Reimbursement Arrangements.

The embrace of consumer-directed health care by larger corporations helped secure the HSA legislation in 2003, aided by regulators such as Roy Ramthun, who also read a letter of congratulations from former Secretary of the Treasury John Snow. Mr. Snow called HSAs “an example of public policy done right,” and said, “The creation and implementation of HSAs represents one of the most meaningful health policy innovations in a generation and one that I count as a great accomplishment of the Bush Administration and my tenure as Secretary of the Treasury.”

Also on hand were representatives of many of the companies who are developing and marketing the products and services that support consumers in the health care marketplace, including, Evolution1, Health Equity, ConnectYourCare, Alegeus Technologies, Acclaris, Bank of America, Golden Rule Insurance, Optum Bank, and PNC Bank.

The commemoration was topped off with a champagne toast by Dr. Goodman, honoring all those who have made the program successful and calling for restoring the patient to the center of the health care system in the future.

TAGGED: health savings accounts, HSA

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Greg Scandlen December 20, 2013
Share this Article
Facebook Twitter Copy Link Print
Share
Previous Article RSNA 2013 stephen m. bravo RSNA 2013: Searching for Imaging Efficiency in a Software Platform
Next Article The Cloud Is Revolutionizing Healthcare

Stay Connected

1.5k Followers Like
4.5k Followers Follow
2.8k Followers Pin
136k Subscribers Subscribe

Latest News

meditation retreat
What To Expect On A Meditation Retreat In Miami
Health February 6, 2023
Guide To Pursuing a Career in Nursing as a Foreigner in the USA
Guide To Pursuing a Career in Nursing as a Foreigner in the USA
Career February 5, 2023
Botanical Extracts
Botanical Extracts That Should be on Your Health Radar
Health February 5, 2023
Navigating Medical Care as a Wheelchair User
Navigating Medical Care as a Wheelchair User
Health February 4, 2023

You Might also Like

Health care

Why Is a Referenced Based Pricing Tool Necessary?

February 3, 2023
at-home genetic testing method kits
Global Healthcare

Simplifying the Genetic Testing Process: How At-Home Kits are Changing the Game

January 25, 2023
green hospitals
Hospital Administration

9 Hospitals That Have Introduced Green Initiatives

January 20, 2023
benefits of going on a health retreat
Global HealthcareHealth

Why a Health Retreat Can Be the Best Medicine

January 12, 2023
//

We influence million of users and is the most authentic source of information on healthcare business and technology news.

Quick Links

  • About
  • Contact
  • Privacy
Subscribe

Subscribe to our newsletter to get our newest articles instantly!

Follow US

© 2008-2023 HealthWorks Collective. All Rights Reserved.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?