[December 05, 2018] |
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ECFC Applauds Report on Reforming the Healthcare System by Increasing Consumer Choice
ECFC,
the leading nonprofit organization promoting choice in benefit solutions,
applauds the report from the U.S. Departments of the Treasury,
Health and Human Services (HHS), and Labor (DOL) regarding reforms for
the use of health savings accounts (HSAs) and health reimbursement
arrangements (HRAs).
Called "Reforming America's Healthcare System Through Choice and
Competition," the DOL, Treasury Department, and the HHS report
outlines several legislative changes that could be made to increase the
use of HSAs by:
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Allowing innovative insurace products (such as those that provide
payment for generic drugs below the deductible or fixed fee payments
for primary care) to be coupled with HSAs;
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Allowing individuals enrolled in a health insurance plan with a 70
percent actuarial value (AV), or below, to contribute to an HSA; and
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Raising the contribution limits to HSAs.
In addition, the report suggests that there are regulatory changes that
could be made to HSAs, specifically in an expansion of what would be
considered preventive care that could be paid by an HSA-compliant high
deductible health plan.
The report also discusses the proposed regulations issued by the DOL,
Treasury Department, and the HHS in October 2018 which will provide
additional opportunities and flexibility for employers to offer HRAs to
their employees.
"ECFC appreciates the efforts of the Administration for supporting HSAs
and HRAs," said ECFC Executive Director Martin Trussell. "This is a
positive step for employers and American workers and advances healthcare
consumerism through offering additional choices."
About ECFC ECFC is a leading non-profit organization
dedicated to maintaining and expanding employee benefit programs on a
tax-advantaged basis. ECFC represents and promotes employee benefit
programs through effective lobbying and provides education and awareness
to members, compensation practitioners, national opinion leaders and the
general public to help advance healthcare consumerism. ECFC, which was
founded in 1981 as the Employers Council on Flexible Compensation, is
the single organization that focuses its efforts on preserving,
protecting and defending the tax-advantaged programs currently available
to working families through employer plan sponsors. Visit https://ecfc.org/
for more information.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181205005812/en/
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