Medical savings account?

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Medical savings account?

Post by maxdamage » Thu Aug 25, 2005 10:20 pm

Does anybody else have one?The reason I ask is the following hypothetical story:
Person X has a medical savings account which he has built up an amount of R23000.00 in the medical savings account.It has taken person X quite a few years to build up the amount.The thing is that you can't take it out as it is used for paying of medicines,doctor fees,etc...


Now what my government wants to do is at the end of each year whatever is in the medical savings account the government takes to use for people who cannot afford medical services which include those who do not work at all.It means that person X's hard earned money will be used to pay for someone else's problems.


Has this happened in another country or am I living in a lunatic asylum?I would like to know and discuss it.

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Post by Pierce 2: The Sequel » Thu Aug 25, 2005 11:28 pm

Here in the US, employers have the option to offer a "flexible spending" or "cafeteria" plan, which allows you to set aside money, tax-free, to use for certain approved medical expenses. The way I understand it, however, your employer is free to keep any unspent money in your account, and they are under no obligation to return it to you. (I've heard from one person that, indeed, they're not supposed to give it back to you, but I don't believe that to be true.) My employer, fortunately, does--it's a nice little May-ish bonus check; it's bought me more than one computer... :D
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Post by maxdamage » Thu Aug 25, 2005 11:56 pm

I forgot to mention that the medical savings account is with the health insurance company that you take a health insurance policy with,etc..



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Post by Pierce 2: The Sequel » Fri Aug 26, 2005 12:20 am

Ours is managed by a company that specializes in these sorts of plans; don't know if the more traditional insurance companies have a piece of this action or not...
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Post by Crook » Fri Aug 26, 2005 12:53 am

That's called national insurance in the UK. Means you never pay for hospital treatment of any kind. 7 (ish) percent of your salary goes towards it - an extra tag on to income tax. It pays for your pension too.
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Post by maxdamage » Fri Aug 26, 2005 2:05 am

The thing is that the government is trying to take money that is not theirs as it is in a savings account in your name with a health insurance company in the first place and use it to pay for the people who cannot afford medical coverage and what I can only think is the reason why they are doing it is so they can have a salary increase for the bigwigs in the government as they don't have to allocate more funding for the scheme.



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Post by Gust0o » Mon Sep 12, 2005 6:10 am

Well, it doesn't pay for the entirety of your pensionable years, Mr. Crook - one would be foolhardy to rely upon it!

If it's private medical insurance then what the SA government is attempting is quite possibly illegal, and, in any case, your friend should be in a strong position to demand some form of rebate in the event of such a move.

If it's in the hands of someone other actor, say an employer, then the rules change; quite possibly the government could do what it intends, with the aid of the employer. Fuck knows, the devious bastards could even write it off in some obscure tax move, replete with masons' handshakes and gin.

If you have any relevant details on the proposed moves, could you please post them? Otherwise we're simply guessing in the dark.

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Post by bzb » Mon Sep 12, 2005 10:40 am

It is kinda ironic that we in the UK pay into a pension scheme that is no longer garanteed to ever pay out. Yet the reasons for that are longer life expectincy which surely the government should have noticed happening a little bit sooner. To add to the problem they are trying to ban smoking, stop us drinking ourselves to death and make us eat healthy food so i can look forward to a pension (after i retire at the by then mandatory age 83) of £1.50- less income tax- every month.
Im gonna rebel and drink myself to death in order that i help the common man retire earlier.

The problem with making something free to all is just that. With no finacial or other penalty for seeing your doctor in the UK people clog the system with having a cold diagnosed and visit a&e departments when they have a paper cut. Although it is nice to know you can get diagnosed with cancer tomorrow and be treated in about 12-18 months with second rate drugs, not having to worry about the bill brings such peace of mind.

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Post by Gust0o » Mon Sep 12, 2005 12:01 pm

Thankfully for those with the option, a great many jobs come with private healthcare these days - just about every graduate scheme I looked at had massive medical/dental attachments, probably in lieu of giving you decent money.

As soon as I'm comfortably settled I'm gonna sting the scheme for a bare minimum of three crowns! Goldie eat your fucking heart out. And a bleaching as well, so I can literally dazzle my poor colleagues next time we get bored in a meeting.

Returning to pensions though, these cunts that whine about the state not providing for them when they never set up personal pensions - what the fuck? I hope these people were sterile, and haven't been breeding, or we're going to have a problem.

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