(PRWEB) May 11, 2005
Health Savings Accounts/HSA became available in January 2004 with the passage of the Medicare Bill. The HSA market is growing faster than anyone expected. America's Health Insurance Plans latest statistics showed HSAs, in the 14 months since their inception (1/04-2/05), have been opened by 1.03 million Americans. AHIP's survey found 37 percent of the individual policies - some 204,374 - were sold to people who were previously uninsured. Americans are speaking out about health care costs, and they are starting to speak loudly. This is a great start, but there is more to be done, and H.R. 1872 will help millions more Americans with their health care needs.
On April 28, 2005, Representatives Sam Johnson (TX), Eric Cantor (VA), Paul Ryan (WI) and J.D. Hayworth (AZ) introduced legislation, HR 1872, which incorporates a large portion of the President's health care agenda.
We believe that High Deductible Health Plans (HDHP) paired with Health Savings Accounts (HSAs) carry great potential to help lower the cost of health care for everyone, including employers.
H.R. 1872, the Health Coverage for the Uninsured Act of 2005 - builds on the foundation of a previously-passed law that established Health Savings Accounts which allow individuals with high-deductible insurance to set aside tax-free savings for lifetime health-care needs. It also eliminates the unfair tax bias in current law against individuals who purchase their own health-care coverage.
The following is a brief outline of the three sections of the bill:
1. Encourage individuals to buy affordable health insurance: an above-the-line deduction for the cost of health care premiums.
2. Encourage small businesses to offer high-deductible plans: a tax credit for employers who make contributions to employee HSAs.
3. Make health care insurance more affordable for low-income people: provide a tax credit for the purchase of health insurance.
hsa Trustee Services is sponsoring http://www.hr1872.com. This website has been built to help educate and inform Americans on the benefits of H.R. 1872, the Health Coverage for the Uninsured Act of 2005. We will be contacting all our customers who have set up HSAs, many of whom have to pay for their health insurance out of pocket. Working with our agent network across the country (over 4500 strong and growing daily), we will be informing them on H.R. 1872 so they can help contact their clients many of whom are like millions of Americans that have to pay for their health insurance out of pocket.
There is a link at http://www.hr1872.com to contact your Congressperson and tell them you support passage of H.R. 1872. We invite all Americans to visit the site, whether you have already set up an HSA or are just now looking into a HDHP with a Health Savings Account option. We must all work together to support passage of H.R.1872.
About hsa Trustee Services:
hsa Trustee Services is a nationwide provider specializing in opening Health Savings Accounts (HSA) for individuals, families and groups since the inception of the HSA program in January 2004. hsa Trustee Services was the first TPA to offer "no monthly fee" HSAs using hsa Trustee Bank, a division of Sutton Bank, which includes a free prescription discount drug card. hsa Trustee Services also works with banks and credit unions nationwide, setting up their HSA program so more Americans can take advantage of HSA plans. For more information on this program, or the other benefits of using hsa Trustee Services, please call 866-hsa-2010. hsa Trustee Services, dedicated to ÂKeeping the $avings in the Health Savings AccountÂ.
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