Hi,

I have recently been looking into an alternative for my current health insurance. In the process, I stumbled upon the Health Savings Account (HSA) - (IRS Publication 969). I understand that this intended for people who already possess health insurance and that insurance must have a certain deductible. My question for you is this.

How would one go about proposing/creating a specialized HSA. Here is what I am looking for:

This Specialized HSA (SHSA) is tax-deferred savings account for medical expenses, that DOES NOT require the account-holder to have a high deductible health plan. In short this type of account would serve as the account-holder's primary health "insurance."

1) Contributions are made by employee and employer by payroll deduction (similiar to 401k)

2) Employee can claim a tax deduction for the contributions they or someone other than their employee make to the account, even if the employee does not itemize their return

3) Contributions from employers are excluded from gross income

4) Account is portable. Contributions remain in account from year to year until used

5) The interest and other earning in the account are tax free

6) Distributions are tax free if they are used for qualified medical expenses (IRS Publication 502). These include doctor’s fees, prescriptions, and hospital services.

7) You can receive distributions at any time. If a distribution is for anything other than medical expenses, the distribution is subject to tax and additional 10% penalty tax. Distributions are reported to the IRS with form 1099-SA

8 ) Distributions can be made for anyone you have claimed as a dependant, yourself, or your spouse.

ALL of these features exist with a standard HSA.

I have asked around about this and I've been told by countless individuals that they would sign up for one in a heart beat BUT It'll never happen BECAUSE THE GOVERNMENT WONT ALLOW IT. I don't like taking NO for an answer. I was wondering if anyone has any insight into this. Could someone maybe point me in the rigth direction? Any help would be appreciated.