Representatives Kat Cammack (R-FL) and Greg Steube (R-FL) are reintroducing legislation to make access to health savings accounts (HSAs) easier for millions of Americans.
The bill is named the "Affordable Care and Comprehensive Economic Support through Savings" (ACCESS) Act, which Reps. Cammack and Steube had first introduced in September 2023.
To reiterate, the bill not only creates health savings accounts for eligible individuals on the Affordable Care Act (ACA's) cost-sharing system, but upon an insured's request, the HSA funds equal to 1 ⁄12 of the insured's annual reduced cost-sharing actuarial equivalent would be monthly disbursed. The insured could then use such funds through a "qualified medical debit card" to pay for medical care.
Rep. Cammack's press release described, "Access to affordable care has diminished over the past decade, as the prices of medical care have skyrocketed and provider networks have shrunk."
However, the Florida Congresswoman added, "With money in an HSA, you can obtain the personalized services you need and see the doctors you trust, even if they're not covered by your health insurance plan. For working families in my district and across the country this option is a lifesaver and will give many the flexibility to afford visits and procedures they may not be able to otherwise."
Similarly, Rep. Steube said, "The ACCESS Act is a straightforward solution to lower health care costs and expand access for the millions of lower-income families struggling under rising inflation and medical expenses."
"This bill puts patients in control by offering a personal health care option that increases access to affordable treatments, trusted doctors, and essential therapies through tax-free, directly funded health savings accounts. At the same time, it streamlines existing health subsidies, saving taxpayers tens of billions of dollars. Conservative, results-driven reforms like this are what Americans can expect from Republicans in Washington," Steube continued.
In October, Cammack introduced a similar bill focused on home ownership, the Next-Generation Equity Savings Tool (NEST) Act, which creates tax-free savings accounts for first-time homebuyers.
