House to Consider Bills to Boost Health Savings Accounts

(From The Washington Examiner)

The House plans consider three major bills next week that aim to expand the use of health savings accounts.

House leadership aims to pass the legislation before lawmakers leave for the monthlong August recess starting after next week.

House Republicans’ effort comes amid a barrage of attacks from Democrats who charge that GOP policies, especially repealing the penalties for going uninsured, are contributing to rising Obamacare premiums.

Health savings accounts, which allow a consumer to set aside pre-tax money for healthcare expenses, have long been popular among Republicans, who have argued it gives Americans more control over their healthcare dollars and is a way to keep costs down. Several Obamacare repeal bills included measures to boost the use of health savings accounts.

One of the bills to be taken up next week seeks to boost the contribution limits for health savings accounts, while another would allow the inclusion of certain over-the-counter products as qualified medical expenses. Another would allow catastrophic plans sold on Obamacare’s exchanges to qualify for HSA contributions, which currently such plans cannot do.

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