Bill Introduced to Improve Offerings Under Health Savings Accounts

U.S. Rep. Mike Kelly (R-Pa.) on March 1 introduced the Bipartisan HSA Improvement Act, designed to make healthcare more affordable under updated Health Savings Accounts (HSAs), reports the Ripon Advance . "With so many people increasingly choosing HSA plans, it is important that federal rules allow employers to provide the best benefits possible for their employees," Kelly says. "By modernizing HSA policy, this bipartisan bill will promote flexibility, encourage innovation, and expand access to these cost-saving plans for many more Americans." The Centers for Medicare and Medicaid Services notes using untaxed HSA dollars to pay for deductibles, copays, and other costs allows people to reduce their healthcare expenses. Kelly says more than 20 million Americans are currently enrolled in HSA-qualified plans, which places them "in the driver's seat of their healthcare, helping them save money and stay healthy." The bill also would let HSA plans offer HSA dollars that people could use for wellness benefits such as exercise, and offer pre-deductible coverage for drugs and services to help manage chronic conditions as well as health services provided at both onsite employee clinics or retail health clinics. "Health savings accounts are popular and effective tools for employers striving to provide affordable coverage to working families," notes American Benefits Council President James Klein.