The House last night approved ABA-backed legislation that would expand and strengthen health savings accounts as part of the ongoing effort to improve the American healthcare system.
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As the House Ways and Means Committee today began a markup of several bills that included provisions related to health savings accounts, ABA wrote to committee leaders thanking them for their efforts to expand the flexibility of HSAs.
In testimony before the Joint Economic Committee today, ABA HSA Council Executive Director Kevin McKechnie called on Congress to expand and strengthen health savings accounts as part of the ongoing effort to improve the American healthcare system.
Over the past 15 years since they were created, health savings accounts have grown to 22 million accounts totaling $45.2 billion in assets — and assets are expected to surpass $60 billion by 2019. This fast-growing market represents a strong business opportunity for banks, according to two experts speaking on the latest episode of the ABA Banking Journal Podcast that is sponsored by WEX Health.
Maryland Gov. Larry Hogan yesterday signed emergency legislation that would fix a state law inadvertently preventing hundreds of thousands of Marylanders with high-deductible health plans from contributing to their health savings accounts.
The FDIC has proposed to rescind the former Office of Thrift Supervision’s rule on fiduciary powers of state savings associations and amend current FDIC regulations regarding consent to exercise trust powers to reflect their applicability to both state savings associations and state nonmember banks.
In a letter to lawmakers today, ABA’s Health Savings Account Council applauded a bipartisan measure that would allow HSA plans the option to cover high-value health care services and medications associated with chronic disease management without a deductible.
The ABA Health Savings Account Council today applauded proposed changes by Department of Health and Human Services to further incorporate health savings accounts and high-deductible health plans into the health insurance plans available from health care exchanges in 2019.
ABA’s Health Savings Account Council recently wrote to Sens. Lindsey Graham (R-S.C.) and Bill Cassidy (R-La.) in support of the HSA-related provisions of their proposal to reform the Affordable Care Act.