EXCLUSIVE: GOP Bill to Expand Tax-Free Health Savings Accounts to All Americans
Rep. Chip Roy (R-Texas) has introduced a bill that would make tax-free Health Savings Accounts (HSAs) available to all Americans.
Currently, most Americans cannot use HSAs due to the stringent rules that govern their use: only those who pay an abnormally high insurance deductible can take advantage of the pre-tax program. In practice, this means that 90 percent of Americans are not eligible for HSAs.
Roy’s bill, dubbed the Healthcare Freedom Act, would change the rules to make all Americans eligible for HSA accounts.
To do this, the bill would de-link eligibility for an HSA, renamed a “Health Freedom Account” by the legislation, from health insurance requirements….