ABA HSA Council Statement in Support of HSA Expansion

"As Congress weighs the merits of enacting a third reconciliation bill, we support House and Senate leaders in their effort to address healthcare affordability by expanding the number of Americans eligible to open a Health Savings Account. The fastest way to bring savings to seniors, veterans and Native Americans is to end the exclusion of Medicare, VA, TRICARE and Indian Health Service beneficiaries from HSA eligibility. In addition, expanding access to HSAs minimizes opportunities for fraud, especially in the ACA Exchanges, and provides every American the chance to save on their out-of-pocket costs now, through tax-advantaged HSAs.

"The ABA HSA Council supports the president's efforts to expand HSA eligibility and Rep. Burlison's effort to give every American the chance to open and contribute to a Health Savings Account. Rep. Burlison's proposal is consistent with the president's plan to give more Americans the chance to use their own money to live healthier lives while saving for their future healthcare needs. We urge congressional leaders to allow more Americans access to health savings accounts to help them cover the rising cost of healthcare."

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About the American Bankers Association

The American Bankers Association is the voice of the nation's $26.1 trillion banking industry, which is composed of small, regional and large banks that together employ over 2 million people, safeguard $20.5 trillion in deposits and extend $13.7 trillion in loans.