On Wednesday, the House will be voting on two (2) healthcare bills.
#1 – NO on H.R.6199 – We’re not subsidizing spin classes for the rich, thank you.
H.R.6199 – “Modernizing health savings accounts”, allows those 20 million people with “Health Savings Accounts” (HSAs), allowable when one has a high-deductible health plan (HDHP), to use these savings accounts to cover prescription and over-the-counter medication, menstrual care products, gym membership and other expenses that contribute to an individual’s health.
What’s wrong with this? It’s the same thing as rich people getting the lowest interest rates for bank accounts and credit cards…it’s another discount program for the well-off. HSAs are tax shelters that do nothing for poor people. In fact, most Americans do not have enough savings to account for an emergency, medical or otherwise. The wealthiest Americans disproportionately benefit from these insurance arrangements. Indeed, families making in excess of $100,000 make up 70 percent of HSA contributions.
CNN Money called HSAs “the best tax-free investment account you’ll be able to find.”