As health care costs continue to rise, many employers are going to be forced to make some difficult decisions. Legislation Legislation regarding MSAs is currently pending. If signed into law, all contributions made on behalf of an employee into an MSA could be excluded from gross income. Regulation stipulates that the MSA become a trust that could be administered by an employer, a bank, an insurer, or a certified entity acceptable to the Secretary of Treasury. The support for MSAs is not without opposition.
Consumer behavior is a key component in controlling health care costs.
By empowering individuals the medical delivery system becomes more accountable. According to Michael Kramer, product manager, Golden Rule employee participants can use their MSAs for expenses such as eye exams and dental treatment that traditionally are not covered in regular health plans. Golden Rule Insurance offers medical savings accounts through independent producers. Yet, the freedom to choose is preserved. There is no gatekeeper authorizing to which specialist a person may go and which medical procedures are appropriate.