For Immediate Release:
Contact: Kelly Broadway, 202-808-8853
Washington, D.C. – A broad coalition of employers, patient advocates, and conservative organizations representing millions of Americans today sent a letter to Congress urging lawmakers to pass the HSAs for All Act (H.R. 7681), led by Rep. Aaron Bean.
The coalition highlighted the growing affordability crisis facing American families, noting that health care costs continue to rise faster than wages and that many workers now face deductibles exceeding $5,000 before most coverage begins. Despite this financial exposure, millions of Americans are currently unable to access Health Savings Accounts (HSAs) due to outdated federal restrictions.
“Too many Americans are being asked to shoulder significant health care costs without access to the very tools designed to help them manage those expenses,” said Joel White, President of the Council for Affordable Health Coverage. “Employers, patients, and policy leaders are united in calling on Congress to modernize the law and expand access to HSAs so families can better afford care and take control of their health dollars.”
The HSAs for All Act would expand eligibility for HSAs to include all employer-sponsored and ACA marketplace plans—extending access to as many as 150 million additional Americans.
HSAs are widely recognized as an effective tool to improve affordability:
- They reduce out-of-pocket costs through tax advantages, effectively lowering spending by 10-37 percent, depending on income.
- They empower consumers to get lower cost care, particularly for the 30-40 percent of services that are shoppable.
- They allow families to save and build health security over time, with funds that roll over and remain under the individual’s control.
Currently, more than 60 million Americans use HSAs. Expanding access would provide millions more families with a proven mechanism to manage rising health care costs and prepare for future medical expenses.
The coalition’s letter urges Congress to act swiftly to advance the legislation and make HSAs more broadly available across the health care system.
For more information or to speak with coalition representatives, please contact Joel White ([email protected])