ObamaCare’s HSA Promise – and Peril

ObamaCare’s HSA Promise – and Peril

By loading trillions in new spending on top of existing health-care entitlements and raising the specter of far less innovation in health care as government’s role in the market grows, ObamaCare represents a serious wrong turn. Yet it’s still possible to salvage one bright spot in the U.S. health-care landscape – Health Savings Accounts – and build on their foundation for more market-oriented reforms in coming years.

HSAs are one of the few truly innovative developments in health-insurance markets in recent years, forcing consumers to make smarter choices about the health-care...