News from Washington Ways and Means Advances Legislation Expanding HSA BenefitsThe House Ways and Means Committee approved legislation on September 28 that would allow more individuals to save for and afford health care costs by expanding eligibility requirements and contribution limits for Health Savings Accounts. The legislation now goes to the full House of Representatives. […]
News from Washington Reps. Cammack, Steube Introduce ACCESS Act to Make HSAs Available to Millions of AmericansCongresswoman Kat Cammack (R-FL-03) and Congressman Greg Steube (R-FL-17) introduced a fiscally conservative plan to make HSAs available to five million lower-income Americans. The bill would allow individuals to elect to receive contributions to an HSA in lieu of reduced […]
News from Washington House Lawmakers Unveil Bipartisan Legislation Tackling Health Care Cost and Price TransparencyHouse members from three key committees introduced a bipartisan health care bill aimed at addressing price transparency, prescription drug costs and workforce investment. The legislation includes provisions that would require hospitals to publicize the standard prices for all items and services […]
News from Washington Republicans Challenge Acting Secretary of Labor’s Authority Amid Rumors of New Fiduciary RuleSenator Bill Cassidy (R-LA), the ranking member of the Senate Health, Education, Labor and Pensions Committee, introduced legislation that would require Julie Su, the acting secretary of the Department of Labor, to step down. Cassidy’s legislation comes as industry watchers […]
HSA Studies & Analysis Women’s Health Savings Lag Men’s Even Though They’re Expected To Live LongerWomen are expected to live longer than men and can take on more healthcare costs over their lifetime. However, women’s HSA balances are, on average across generations, about 15% lower than men’s, a Bank of America report showed. Women are also […]
HSA Studies & Analysis EBRI Finds Increased Use of Certain Medical Services Covered by HSA-Eligible PlansA 2019 policy change by the IRS has resulted in 75% of large employers that offer HSA-eligible plans expanding their pre-deductible coverage for medications and services that help manage chronic conditions. Read More HSA Compliance Corner Do You Have […]
News from Washington GOP Push to Get More Americans into High-Deductible Health Is Dividing DemocratsA push led by House Republicans to allow insurers offering high-deductible health insurance plans to cover more expenses than they do now is gaining momentum in Congress and dividing Democrats. The proposed changes reflect the new state of play on health […]
News from Washington Sen. Ted Cruz Introduces Bill Expanding HSAsSen. Ted Cruz (R-TX) introduced a bill that would expand HSAs by lifting the contribution limits to $10,800 for individuals and $29,500 for families, decoupling HSAs from high deductible health plans, and expanding HSAs to Americans covered by other health insurance and government health programs. A […]
HSA Studies & Analysis Fidelity: Health Savings Accounts – 2023 Key InsightsAccording to a recent Fidelity survey, 22% of consumers have recently used an HSA to pay health-related bills. While HSAs are only one piece in the puzzle of paying for health care, they can be a valuable tool to manage current health costs and […]
HSA Studies & Analysis Podcast: The Mainstreaming of Health Savings AccountsOn the latest episode of the ABA Banking Journal Podcast, ABA’s Kevin McKechnie and HSA expert Eric Remjeske discuss the findings of their latest survey of HSA accountholders, how HSAs fit into the business models of banks of all sizes, why large numbers of community […]