Last week, the U.S. House of Representatives passed 11 health care bills that would enhance consumer-driven healthcare, including Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), and the Affordable Care Act (ACA).
The passing of these bills does not mean the bill will become law. First, the House of Representatives must approve the bill. Next, the Senate must approve or amend it. Lastly, the President must sign it.
It is predicted that the Senate will vote on these bills before the end of the year and President Trump is expected to sign any and all of these bills if they pass.
Health Savings Accounts (HSAs) |
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| Bill Name | Proposed Changes |
| Promoting High-Value Health Care Through Flexibility for High Deductible Health Plans Act | Allow HSA-linked, high deductible health plans to offer predeductible coverage for services and drugs used to treat chronic conditions (currently individuals with existing conditions pay out-of-pocket costs until the deductible is met) |
| Bipartisan HSA Improvement Act |
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| Improve the Rules with Respect to Health Savings Accounts Act |
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| Allow Working Seniors to Keep Their Health Savings Account Act | Individuals could contribute to an HSA if they were over age 65 and entitled to Medicare Part A |
| Personal Health Investment Today Act |
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| Primary Care Enhancement Act |
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Flexible Spending Account (FSA) |
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| Bill Name | Proposed Changes |
| Responsible Additions and Increases to Sustain Employee Health Benefits Act | Remaining FSA balances could carry over to the following year |
Affordable Care Act (ACA) |
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| Bill Name | Proposed Changes |
| Employer Relief Act |
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| Restoring Access to Medication Act |
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| Increasing Access to Lower Premium Plans Act |
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| Health Savings Act | Expands access and eligibility to HSAs by allowing “catastrophic” and bronze plans in the ACA exchanges to qualify for HSA contributions |
If these bills pass in their current form, the provisions in the bill would take effect for plan years beginning after December 31, 2018. Stay tuned to our blog for the latest updates on these pending bills.
National Insurance Services is not a law firm and no opinion, suggestion, or recommendation of the firm or its employees shall constitute legal advice. Readers are advised to consult with their own attorney for a determination of their legal rights, responsibilities and liabilities, including the interpretation of any statute or regulation, or its application to the readers’ business activities.
