Tuesday, May 09, 2006
PR Newswire - May 3: Washington -The Coalition on HSA Coordination today supported the introduction of the Tax-Free Health Savings Act by Rep. Eric Cantor (R-VA) according to the Coalition's chairman Duane Olson, who manages employee benefits plans at Deere & Company."This bill represents another step forward in the process to truly transform our health care system, and that transformation begins with the active participation and engagement of our employees," Olson said."We applaud the bill and specifically want to congratulate Congressman Cantor for his inclusion of two important provisions he had previously championed in HR 4511. This bill will increase the current contribution limits to promote widespread adoption of HSAs and permit coordination of HSAs with other popular accounts, like flexible spending accounts (FSA) and health reimbursement arrangements (HRA)."Olson continued: "The real challenge facing employers as they seek to adopt HSAs is the reality that a significant percentage of their employees are burdened by the high deductible, especially those with lower incomes or chronic care conditions. Permitting coordination of different plans like flexible spending accounts and health reimbursement arrangements will accelerate the growth in health savings accounts by ensuring that these accounts make sense for all working Americans and enable employees to plan, budget, and manage their own personal responsibility.""As the legislative process moves forward, our hope is that the five year period allowing coordination will be expanded so that working Americans and their families can enjoy the many complementary benefits that each of these accounts offers into the future," Olson said. "At a time when American families' personal savings rates are low and health costs are growing, promoting educated health care decisions by informed consumers is not only smart policy, it's smart living."
posted by kanth
@ 1:01 PM
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