Banks Escalate Lobbying to Destroy What's Left of Employer Sponsored Health Insurance
[...]
Bank of America, J. P. Morgan Chase, Fidelity Investments and other such entities are offering or preparing to offer 401(k)-type accounts to cover medical expenses, The New York Times said Friday.
Industry groups expect the number of U.S. residents with high-deductible insurance policies required for such accounts to rise from the current 3 million to 15 million by 2010.
That means an estimated $75 billion in new money to manage will soon be at stake. Banks and others are drawn by the promise of lucrative fees they can generate by offering consumers mutual funds and other investment vehicles as their account balances grow.
[...]
Bank of America, J. P. Morgan Chase, Fidelity Investments and other such entities are offering or preparing to offer 401(k)-type accounts to cover medical expenses, The New York Times said Friday.
Industry groups expect the number of U.S. residents with high-deductible insurance policies required for such accounts to rise from the current 3 million to 15 million by 2010.
That means an estimated $75 billion in new money to manage will soon be at stake. Banks and others are drawn by the promise of lucrative fees they can generate by offering consumers mutual funds and other investment vehicles as their account balances grow.
[...]
posted by TheFuriousGourmet | 5:46 AM
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