Texas Reps. Beth Van Duyne (R) and Dan Crenshaw (R) have reintroduced the HSA Modernization Act to make health savings accounts (HSAs) more accessible for Americans.
In a statement, Rep. Van Duyne discussed the impetus for the legislation, sharing that “after meeting with North Texas families and medical professionals, including through health-focused roundtable discussions, I’m reintroducing the HSA Modernization Act to help make healthcare more affordable and flexible.”
“This pragmatic bill will cut unnecessary regulations, modernize health savings accounts, and expand HSA eligibility for disabled veterans, working seniors, and Native Americans while offering Americans more control over their care,” she explained, adding that her goal is “to give North Texans access to more personalized and high-quality options for their healthcare.”
According to a press release announcing the bill, it would increase contribution limits that would better align with what individuals might owe in out-of-pocket expenses to ensure that American can cover their bills in an emergency, and it would provide spouses with the opportunity to “catch up” on payments in the same health savings accounts, among other benefits.
Grover Norquist, the president of Americans for Tax Reform, applauded the initiative, sharing that “roughly 72 million Americans use health savings accounts, giving them flexibility in saving and investing for their needs. Unfortunately, the federal government disincentivizes HSA use through low contribution limits, vague regulations, and harsh penalties.”
With the reintroduction of the bill, Norquist is urging lawmakers to support the effort for its potential to promote consumer-driven healthcare and reduce taxes for families.
Pennsylvania Rep. Dan Meuser (R), who reintroduced the bill with his Texas colleagues, weighed in on the bill, calling it “a commonsense piece of legislation that delivers the benefits of HSAs to our veterans and seniors.”
The HAS Modernization Act has received the support of the Employers Council on Flexible Compensation, Council for Affordable Health Coverage, and Americans for Tax Reform.
