Adam Smith Institute

Could medical savings accounts provide the escape from runaway healthcare costs?

Many countries with private health insurance schemes -- the US, Singapore, even South Africa -- have developed the medical savings account idea as an escape from runaway healthcare costs. The idea is to allow insurance, public or private, to concentrate on providing against the big, unpredictable and costly healthcare needs, but to ensure that everyone has access to savings that can be used to provide for the smaller, routine, more everyday healthcare costs.