As the Office of Personnel Management considers possible changes to federal employee health benefits, it should create more opportunities for employees to select health savings account-qualified, high-deductible health plans, the American Bankers Association HSA Council said in a letter to the agency.
The OPM is currently considering changes to the Federal Employees Health Benefits, or FEHB, program, and the agency has asked the public for input about possible reforms. In its comment letter, the HSA Council said the OPM should not view HSA-qualified plans simply as plans with a higher deductible.
“Properly designed, HSA-qualified plans combine comprehensive insurance protection, lower premiums, tax-advantaged healthcare savings, and the opportunity to save for future healthcare expenses,” the council said.
The HSA Council urged the OPM to expand opportunities for innovative HSA-qualified plan designs. “The objective should be an FEHB system in which an enrollee can make an informed choice among plan designs based on the individual’s health needs, financial circumstances, expected utilization, retirement horizon and tolerance for financial risk,” it said.
