Jul 13, 2018

Congress is on the Right Track with Health Savings Accounts

Post by Freedom Partners

Recently, the House Ways and Means Committee proposed several ways to improve health savings accounts and make them more accessible to more Americans. We support their efforts and encourage the House to back these measures to improve the health care experience of millions of Americans.

On July 11, Freedom Partners joined a coalition letter with Americans for Tax Reform with over two dozen signers addressed to the House Ways and Means Committee supporting the committee’s efforts, as well.

HSAs reduce taxes for families, encourage lower health care spending and put health care choices back in the hands of consumers. Already, these accounts are popular among many Americans, with over 25 million families and individuals benefitting from their use.

But there is more Congress can do.

“There are numerous important pieces of legislation that your committee is considering that will improve HSAs,” the coalition letter says, “including proposals to double the contribution limit, end the prohibition on purchasing over-the-counter medications, expand access to HSAs, and allow HSAs to be used by working seniors.”

We encourage the House to take up a vote on the committee’s proposals. Expanding HSAs will be a great step forward for millions of Americans looking to put health care choices in their own hands.