The ABA HSA Council’s Board of Directors met in Washington D.C., June 28-29 to discuss the future of health savings accounts in light of the elections this fall and to visit with members of Congress about pending legislation expanding contributions to HSAs.
In a letter to the U.S. Department of Heath and Human Services last week, ABA urged it to reconsider a recently issued regulation that would effectively eliminate health savings account-qualified health plans from insurance exchanges beginning next year, causing an estimated 2.8 million Americans to lose their coverage.
In an op-ed in The Hill today, ABA’s Kevin McKechnie voiced his support for proposed legislation that would exempt employee contributions to HSAs from the Affordable Care Act’s excise (or “Cadillac”) tax.
ABA’s Health Savings Account Council issued a statement today in support of the House and Senate versions of the Health Savings Act of 2016, which would exempt employee contributions made to HSAs from the Affordable Care Act’s excise (or “Cadillac”) tax, streamline the HSA administration process and make HSAs more widely available to more Americans.
Regulatory uncertainty about how the Affordable Care Act’s excise tax on so-called Cadillac health plans will affect health savings accounts is causing employers to eliminate payroll deduction contributions to HSAs, according to a study released today by ABA’s HSA Council.
ABA Health Savings Account Council Chairman James Galdolfo, joined by ABA SVP Kevin McKechnie, yesterday participated in a panel discussion convened by the National Committee on Vital and Health Statistics of the U.S. Department of Health and Human Services.