Improving Health Savings Accounts
Health Savings Accounts (HSAs) were first established as part of the Medicare Modernization Act of 2003. HSAs combine high-deductible health plans (HDHP) with a personally owned, tax-preferred and portable health savings account. Individuals with a HDHP may use their HSA to pay for qualified medical expenses. To qualify for an HSA, a high-deductible plan must have a minimum deductible of $1,000 for an individual policy and $2,000 for a family policy. The maximum yearly out-of-pocket spending can be no more than $5,000 for an individual and no more than $10,000 for a family. Tax-free contributions to HSAs are currently capped at $3,400 for individuals and $6,750 for families. All deductibles, out-of-pocket spending, and contributions are indexed to medical inflation.
What Comes After Repeal? How to Fix American Health Care, Part 2
By Heritage Foundation President Jim DeMint Thursday, I laid out the case for why Obamacare should be repealed, instead of propped up and tinkered on…
Potential Solutions for Health Care Reform Post Obamacare
Earlier this week, President-elect Donald Trump announced Rep. Tom Price (R-GA) as his pick for secretary of Department of Health and Human Services (HHS). Rep.…
Congress Set to Vote on 1,000 Page Omnibus Health Care Spending Bill
On Wednesday, the House of Representatives is expected to vote on an updated version of the 21st Century Cures Act (H.R. 34). Sponsored by Representative…