Health Savings Accounts - Do they work for hourly wage earners?

I offer a suggestion to all who adamantly rejected President Bush’s attempt to bulldoze Social Security private accounts upon us.  It appears to be a dead issue because of the loud negative public outcry, but let us all stay vigilant.  He will attack again if we become complacent. 

This is a President who attacks and wages war against whomever he pleases, who ignores the Geneva Convention, who gives lavish tax breaks to the wealthiest Americans, who cooks up a smoke and mirrors prescription drug fiasco to benefit pharmaceuticals, and claims the right to eavesdrop on any American citizen he chooses.

And the most demoralizing thing of all is that he has been getting away with it because we have had very few Democrats in our US Congress with the backbone to stand against him.  Even some Republican Congresspersons have become uncomfortable with prisoner abuse and unbridled wire-tapping. 

So now what is King George up to and who is sponsoring him?  His highness is now selling health savings accounts under sponsorship of Wendy’s International who until now was one of my favorite fast food hamburger stops.  I do have to say one of W’s selling points is obviously sincere; Wendy’s health care costs rose only 1% last year compared to double-digit rates previously. 

But now let us examine the benefits to Wendy’s employees.  To qualify an employee must first buy a health insurance policy with a deductible of around $1,050 each year, and the deductible for families would be $2,100. 

I can only estimate what the average hourly wage is at Wendy’s , but in addition to the cost of the policy, it would seem after living expenses and accruing savings to place into the account, paying any deductibles would be next to impossible.   

If there is a Wendy’s employee who reads this newsletter and has a different point of view of the information I offer, they may contact me by e-mailing this website administrator (cdg1203@msn.com).  I gleaned the specific information about Wendy’s health care plan from an article in February 16, 2006 Medina Gazette. 

Buz Cormany
Medina, OH