New Health Savings Accounts Bill Introduced Before Congress

Coronavirus continues to have numerous impacts on our nation as Americans.

To date, one of the most talked-about issues is healthcare. In the United States, millions of Americans lost their healthcare insurance, following shutdowns. Such steep losses in healthcare insurance are directly tied to the reality that many working Americans have healthcare insurance via their places of employment.

 

Even as the economy gradually comes back, many Americans are still out in the cold as it pertains to healthcare. However, Kentucky Sen. Rand Paul (R) has proposed legislation that could change this.

The Republican senator’s Health Savings Accounts for All Act seeks to give each American better and easier access to Health Savings Accounts, reports Breitbart News.

What to Know About the Health Savings Accounts for All Act

If Sen. Paul’s legislation succeeds, then Health Savings Accounts contribution limits will face elimination; furthermore, the success of the senator’s bill would also allow more Americans to successfully qualify for Health Savings Accounts.

Yesterday, the Kentucky senator shared a statement in order to provide deeper insight into what his healthcare legislation is all about. Per Paul’s statement, the Health Savings Accounts for All Act is about allowing more Americans to have control over their healthcare without government getting in their way.

At this time, the government bars individuals from placing more than $3,600 per year into a Health Savings Account; for families, this limit goes up to $7,200. If the GOP senator’s health bill passes, this will change the game for many Americans will all different kinds of healthcare plans.

Under the Health Savings Account for All Act, Americans would also have the freedom to fund direct primary care agreements and health insurance premiums with their Health Savings Accounts.

Feedback Regarding the Legislation

Despite the new proposal of the Health Savings Account for All Act, it has already garnered some interesting feedback. Some conservatives have spoken positively about the legislation, stating that its success would allow more Americans to make choices for themselves.

However, others have stated that the Health Savings Account for All Act doesn’t go far enough. Certain individuals also maintain that including a reduction of Medicare fees would improve the Republican senator’s bill.

Do you believe the Health Savings Account for All Act will make any headway in Congress? Should Americans have more power over their healthcare options and decisions? Let us know down below in the comments section.

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