Bera Introduces Legislation to Protect Employees Health Savings Accounts

Press Release

Congressman Ami Bera, M.D. joined Congressman Charles Boustany, M.D. to introduce legislation that would protect employees' health savings accounts.

H.R. 4832, the Health Savings Protection Act, addresses the so-called Cadillac tax, which aims to reign in excessive health spending, but in reality would shift more costs to patients and has led many employers to threaten to stop providing health savings accounts, citing the fact that they are subject to a tax on their employees' contributions. Bera and Boustany's legislation would exempt contributions to health savings plans from being taxed.

"We should not punish those who are doing the right thing and saving for potential health care costs," Bera said. "The Cadillac tax, while intended to lower the cost of health care, has threatened health savings accounts, which are a practical, efficient ways for people to save for unforeseen medical costs. This bipartisan bill is an important step towards fixing the Cadillac tax and helps businesses and employees avoid additional costs while ensuring continued access to health care."

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