how to create a workforce of indentured servants

First HSA and MedDirect Partner to Provide Line of Credit for Health Savings Accounts - Yahoo! News-- Read on. This is the ultimate perversion of a basically sound idea, the equivalent of giving credit cards to freshman college students or pushing drugs on the playground. It can create a nation of indentured servants, quickly. The medical providers will get paid. The lenders will make money on the interest and the collection fees and will wind up keeping workers in hock for a long time, getting principal and interest payments through automatic payroll deduction. HSAs are supposed to be cash accounts, not credit cards. Who coined the term "debtor nation"? Did they think about using it in this context?

"First HSA and MedDirect have partnered to provide a line of credit for employees, Health Bridge, to use with a health savings account or HSA. The monies are available to all employees regardless of their credit history. The funds provide overdraft protection for the First HSA account to a preset limit -- up to the full HSA plan deductible. Because funds are advanced directly into the HSA, they are tax deductible to the employee. The loan is paid back through payroll deductions over a set period of time with very competitive interest rates. There is no recourse to the employer for bad debts.
Employers that are concerned with the potential that an employee may have healthcare costs that exceed what is in their HSA account, are excited about this new program. Employees have easy access to the funds if needed to pay for qualified healthcare expenses.
First HSA and MedDirect have integrated their systems to automate all processes for this unique line of credit. The line of credit is only available through First HSA and MedDirect.
William West, president and founder of First HSA states: "Most other overdraft protection systems or lines of credit require that the person be credit worthy. Our product is available to all employees regardless of past credit history. Many employers are hesitant to purchase a health savings account program without providing some financial protection for their employees in case of emergency. The First HSA/MedDirect line of credit is the answer to their concerns. MedDirect has pioneered a unique financial product for employers and employees. We are excited to partner with MedDirect to provide this valuable product to our current and future clients."