HSA Changes Are on the Horizon

On Wednesday, July 25th, the House of Representatives passed two healthcare bills that could have an enormous effect on employee enrollment in high-deductible health plans that feature HSAs.

The Restoring Access to Medication and Modernizing Health Savings Accounts Act (H.R. 6199) would allow HDHPs to provide coverage before the deductible is met, increase flexibility for retail and onsite clinics, and make some over-the-counter drugs count as qualified medical expenses.

The second bill, The Increasing Access to Lower Premium Plans and Expanding Health Savings Accounts Act (H.R. 6311), delays the tax on health insurance from taking effect by two years. It also increases the amount of money you can contribute to your HSA.

After being adopted by the House of Representatives these bills now move to the Senate for consideration. BASIC will have updates as more information becomes available.

If you’d like more information about BASIC’s leading HSA administration, visit https://dev.basiconline.com/our-services/hsa-administration/