Today the Trump administration formally endorsed H.R.6311, the “Expanding HSAs Act of 2018,” a bill endorsed by HSAs for All because it would significantly expand HSA eligibility and contribution limits, making it a solid step toward the goal of HSAs-for-all.
The Expanding HSAs Act will be voted on in the House on Wednesday, July 25. We expect it to pass and be forwarded to the Senate for consideration. Senate leaders have not yet taken a position on the bill. But with the House and White House both in support, there’s a good chance the Senate will follow suit. That would be great news for consumers.
Here is the text of President Trump’s statement of administration policy.
EXECUTIVE OFFICE OF THE PRESIDENT
OFFICE OF MANAGEMENT AND BUDGET
WASHINGTON, D.C. 20503
July 23, 2018
STATEMENT OF ADMINISTRATION POLICY
H.R. 6311 – Increasing Access to Lower Premium Plans and Expanding Health Savings Accounts Act of 2018
(Rep. Roskam, R-IL, and one cosponsor)
The Administration supports H.R. 6311, the Increasing Access to Lower Premium Plans and Expanding Health Savings Accounts Act of 2018. This commonsense package of healthcare reforms would give Americans greater ability and incentive to save for healthcare expenses. It would allow them more control over how to spend their resources to best improve their healthcare and health and it would lower insurance premiums for millions of Americans.
Combined with a qualifying health plan, health savings accounts (HSAs) are proven tools to reduce health care costs by better engaging consumers in their health care decisions. H.R. 6311 would allow more Americans to obtain greater benefit from HSAs, by raising contribution limits, allowing working seniors enrolled in Medicare Part A to contribute to an HSA, and permitting HSAs to be paired with Obamacare bronze and catastrophic plans. This bill would also allow people to roll over a greater amount of Flexible Spending Account [FSA] contributions, reducing wasteful end-of-year healthcare spending.
Insurance options have dwindled and premiums have soared as a result of Obamacare. H.R. 6311 also would take concrete steps to lower health insurance premiums by providing relief from Obamacare’s tax on health insurance plans and increasing access to lower-cost plans. The bill is consistent with this Administration’s commitment to give back greater control over healthcare choices to American patients and families.
If H.R. 6311 were presented to the President in its current form, his advisors would recommend that he sign the bill into law.
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