A major benefit of a health savings account is that it

Question

Quizplus · Accepted Answer

Health savings accounts (HSAs) help combat moral hazard by giving individuals control over their health care spending. With an HSA, individuals are more likely to consider the costs of health care services before deciding to use them, as they are spending their own money. This helps to reduce unnecessary utilization of health care services, which can contribute to rising health care costs. HSAs also create the incentive for individuals to prioritize preventative care and see a doctor regularly, as they can use their HSA funds to cover the costs of regular check-ups, vaccinations, and screenings. However, HSAs do not eliminate rising health care costs or necessarily lead to an increase in demand for health care services.

A Major Benefit of a Health Savings Account Is That