With health spending projected to go up by nearly 6 percent annually
for the next eight years, the bill would provide consumers with more
ways to save for their medical needs, according to Hatch and Paulsen.
“This legislation provides those much-needed updates and simplifies these plans helping American families, workers, and retirees build tax-free savings for future medical costs,” Hatch said in a joint statement with Paulsen.
The American Banking Association, a Washington-based trade association, came out in support of the measure Friday, applauding the changes it would make to an Obamacare provision poised to take effect in 2018 that would place a tax on premium health plans.
“We’re pleased that the bill would exempt employee contributions made to HSAs from the Affordable Care Act’s Excise or Cadillac tax and streamlines administration of HSAs for all Americans,” the group said in a statement.
Hatch introduced similar measures in 2008 and 2013.
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Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience.
“This legislation provides those much-needed updates and simplifies these plans helping American families, workers, and retirees build tax-free savings for future medical costs,” Hatch said in a joint statement with Paulsen.
The American Banking Association, a Washington-based trade association, came out in support of the measure Friday, applauding the changes it would make to an Obamacare provision poised to take effect in 2018 that would place a tax on premium health plans.
“We’re pleased that the bill would exempt employee contributions made to HSAs from the Affordable Care Act’s Excise or Cadillac tax and streamlines administration of HSAs for all Americans,” the group said in a statement.
Hatch introduced similar measures in 2008 and 2013.
Follow Juliegrace Brufke on Twitter
Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience.
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