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Article: HSAs Touted As An Answer To Rising Health Care Costs.(employer funded Health Savings Accounts)
- Article from:
- National Underwriter Life & Health-Financial Services Edition
- Article date:
- November 12, 2001
- Author:
CopyrightCOPYRIGHT 2001 The National Underwriter Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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With the cost of health care increasing, employers are looking for innovative new ways to trim expenses when it comes to employee health plans.
"It's the employer who is the buyer of health care in the United States," says Ed Philips, president of Philips-Cox Insurance Services in Virginia Beach, Va.
"These companies want to look good to the stockholders, so they have to trim costs -- and health care is a major cost," he says.
Philips says that because of the increase in health care costs, employers are starting to put more of the expense back on to employees "You're going to see a cost transfer accelerate."
Dr. Michael Parkinson, who ...