The measure would increase the maximum contribution levels.
Senator Ted Cruz of Texas, along with co-sponsors Senators Mike Braun of Indiana and James Risch of Idaho, introduced legislation that will “increase accessibility to healthcare” for taxpayers who take advantage of Health Savings Accounts (HSAs). HSAs are pre-tax personal savings accounts that may be used by individuals or families to cover certain healthcare expenses including medical costs like deductibles, copayments, insurance, and more. The bill would raise the maximum contribution limits for individuals to $10,800 and $29,500 for families.
“I am proud to lead the fight to increase accessibility to healthcare. By considerably expanding HSAs, Texans — and all Americans — will gain access to more portable, individualized healthcare,“ Senator Cruz said. “American people should be able to manage their own healthcare, not the bureaucracy. It’s time to remove the middleman, and allow Americans to make decisions about how and when they will get care for themselves.“
A House version of the bill will be introduced by Representative Chip Roy of Texas, who said, “The Personalized Care Act would help end run this broken system by… giving patients the direct power to make their own healthcare and coverage decisions, ultimately driving up competition to drive down prices.“
As the Lord Leads, Pray with Us…
- For Senators Cruz, Risch, and Braun as they promote the legislation to increase HSA contributions.
- For Congressman Roy as he encourages colleagues to support the HSA bill in the House.
- For Americans at large as they deal with the costs of health care and insurance.
Sources: Newsmax, Washington Examiner
