Government
HSA-linked bill introduced
NEWS IN BRIEF — Posted April 5, 2004
A group of Republican House members have introduced legislation that would allow individuals to deduct 100% of the cost of catastrophic health coverage purchased in conjunction with a health savings account. The bill mirrors comments made by President Bush in his latest State of the Union address. HSA provisions in last year's Medicare bill went into effect Jan. 1.
"One of the most important steps Congress can take to make health insurance more affordable is to make health savings accounts more accessible," said the bill's sponsor, Rep. Phil Crane (R, Ill.). But critics have charged that HSAs will mainly be attractive as a tax shelter for the young, healthy and wealthy, while sicker and older uninsured patients will still be left without coverage.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2004/04/05/gvbf0405.htm.
