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A Guide to Health Savings Accounts, and a Plea for Practicality

Among other provisions, the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 includes a prescription drug benefit for Medicare recipients and authorized the creation of "health savings accounts" (HSAs). Described as a "revolution in American healthcare," HSAs have been touted as a potential catalyst for major change in how consumers fund and finance their health care. In this article the authors, Kirkland partners Todd Maynes and Thomas Evans, examine HSAs - the next revolution in healthcare?