If I want to get aspirin, vitamins or nose drops should I be able to deduct the cost?
The scenario is as follows:
1. Senior citizen
2. ON Fixed income
3. Fixed proportion of income goes towards the total total cost of medical care
4. HSA/MSA is touted as a flexible spending account
5. The point of the FDA approving some drugs for OTC, and the reason for MEdicare reform is to lower the cost of diagnosis and treatment for common ailments
6. IF the MSA money isn’t really your money to maintain your wellness as you need it, then it’s not your money at all, which makes it another forced savings account that provides a negative real rate of return.
7. RyanCare and ObamaCAre removed the Medicare supplement donut hole, but offset the additional cost to the trust funds by raises to the floor for catastrophic claims
8. MSA accounts are going to accumulate less than $100/month, where the value of a dollar is less than 50% of current purchasing power
9. That $100/month is the ONLY immediate upside that fixed income senior citizens will see under RyanCare.