AFP Endorses Bill to Expand Health Savings Accounts

Jan 14, 2020 by AFP

ARLINGTON, Va. – Americans for Prosperity (AFP) today endorsed the Personalized Care Act (S. 3112 / H.R. 5596), legislation that would empower patients by substantially expanding the number of Americans who may own a tax-free Health Savings Account (HSA), how much money they can save annually in one, and the range of medical services those HSA savings can purchase.

AFP Senior Health Policy Fellow Dean Clancy issued the following statement:

“This important legislation would help reduce health care costs and make life better for families by vastly expanding the reach and impact of tax-free HSAs, which put more health care decisions in the hands of patients. The bill would also allow Americans to save more for chronic conditions later in life.

“HSAs represent the most generous form of tax-favored savings out there, and besides helping with out-of-pocket costs they can also provide elderly Americans with an additional buffer against the high cost of medical care in retirement. A strong body of research shows Health Savings Accounts help reduce overall medical costs by helping patients become better shoppers for value. We commend Senators Ted Cruz and Mike Braun and Congressman Chip Roy for introducing this exciting legislation and encourage their colleagues to support it.”

For further information or to set up an interview, please send an email to GCipriano@afphq.org.

Through broad-based grassroots outreach, Americans for Prosperity (AFP) is driving long-term solutions to the country’s biggest problems. AFP activists engage friends and neighbors on key issues and encourage them to take an active role in building a culture of mutual benefit, where people succeed by helping one another. AFP recruits and unites activists in 35 states behind a common goal of advancing policies that will help people improve their lives. For more information, visit www.americansforprosperity.org

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