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Medical savings accounts: assessing their impact on efficiency, equity and financial protection in health care

Author

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  • Wouters, Olivier J.
  • Cylus, Jonathan
  • Yang, Wei
  • Thomson, Sarah
  • McKee, Martin

Abstract

Medical savings accounts (MSAs) allow enrolees to withdraw money from earmarked funds to pay for health care. The accounts are usually accompanied by out-of-pocket payments and a high-deductible insurance plan. This article reviews the association of MSAs with efficiency, equity, and financial protection. We draw on evidence from four countries where MSAs play a significant role in the financing of health care: China, Singapore, South Africa, and the United States of America. The available evidence suggests that MSA schemes have generally been inefficient and inequitable and have not provided adequate financial protection. The impact of these schemes on long-term health-care costs is unclear. Policymakers and others proposing the expansion of MSAs should make explicit what they seek to achieve given the shortcomings of the accounts.

Suggested Citation

  • Wouters, Olivier J. & Cylus, Jonathan & Yang, Wei & Thomson, Sarah & McKee, Martin, 2016. "Medical savings accounts: assessing their impact on efficiency, equity and financial protection in health care," Health Economics, Policy and Law, Cambridge University Press, vol. 11(3), pages 321-335, July.
    • Handle: RePEc:cup:hecopl:v:11:y:2016:i:03:p:321-335_00
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    Cited by:

    1. Panos Kanavos & Olivier Wouters & Olivier J. Wouters & Martin McKee, 2017. "Private Financing of Health Care in Times of Economic Crisis: a Review of the Evidence," Global Policy, London School of Economics and Political Science, vol. 8, pages 23-29, March.
    2. repec:bla:glopol:v:8:y:2017:i:s2:p:23-29 is not listed on IDEAS
    3. Yin, Jason Dean-Chen & He, Alex Jingwei, 2018. "Health insurance reforms in Singapore and Hong Kong: How the two ageing asian tigers respond to health financing challenges?," Health Policy, Elsevier, vol. 122(7), pages 693-697.
    4. Hao Yu, 2017. "China’s medical savings accounts: an analysis of the price elasticity of demand for health care," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 18(6), pages 773-785, July.

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