Senators Reintroduce Health Savings Act to Expand HSAs, FSAs

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Washington, D.C.—U.S. Senators Marco Rubio (R-FL) and Tim Scott (R-SC) have reintroduced the Health Savings Act to simplify and expand Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs), according to a press release from Senator Rubio’s office. The goal is to provide Americans with opportunities to save for medical costs through tax-deductible contributions. This bill was first introduced in February 2017 by Rubio and Orrin Hatch (R-UT).

“Health savings accounts empower families and individuals to have more financial control in their health care choices,” Rubio said in the release. “I am proud to reintroduce this commonsense, pro-family legislation alongside Senator Scott to make managing the cost of health care more feasible for Americans.”

Scott added, “As we continue to fight this pandemic, it has never been more crucial to give every American the flexibility and quality care that serves their individual health needs. The last year has reminded us of the importance of empowering families to save and plan for future medical expenses. By giving those with health savings accounts more control over their own medical expenses, we can dramatically improve affordability and access to care for 22 million Americans.”

The Natural Products Association (NPA) tweeted its supported: “Great to see @SenatorTimScott and @SenRubioPress introduce legislation that expands access to nutritional supplements for all Americans through the modernization of Health Savings Accounts.”

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