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Healthy Choice

Congress comes up with a better alternative to the troubled MSA.

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This story appears in the March 2004 issue of Entrepreneur. Subscribe »

Republicans and Democrats in Congress hope a new type of high-deductible health insurance account (Health Savings Account, or HSA) for the self-employed and small businesses will succeed where Medical Savings Accounts (MSAs) failed.

HSAs, authorized in the Medicare bill signed in December, are available as of January 1, 2004, from companies such as Fortis Insurance Co. and Golden Rule Insurance Co., and are more attractive from tax and operational standpoints than MSAs.

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