AMAC is pleased to see that H.R. 6286 allows for a rollover of HSA funds to the child, parent, or grandparent of an account holder. It also provides an additional tax deduction for amounts paid by taxpayers into an account for their children and grandchildren. The Health Savings Act of 2020. Bill will increase the contribution amounts to give account holders more flexibility when managing out-of-pocket expenses and deductibles.
April 27, 2020
The Honorable Michael Burgess 26th Congressional District of Texas 2161 Rayburn House Office Building Washington, DC 20515
Dear Congressman Burgess,
On behalf of the more than 2.1 million members of AMAC – the Association of Mature American Citizens, including over 8400 residing in TX-26, I write to express our support for H.R. 6286, the Health Savings Act of 2020.
AMAC has long supported health savings accounts (HSA) as a way for Americans to limit health care costs and secure care that is specific to their needs and the needs of their families. As an organization that represents Americans who are age 50 +, we are particularly pleased to see that the Health Savings Act of 2020 provides for generational care by allowing for a rollover of HSA funds to the child, parent, or grandparent of an account holder. H.R. 6286 would also increase HSA utilization by allowing for an additional tax deduction for amounts paid by taxpayers into an account for their children and grandchildren. Your bill also increases contribution amounts to give account holders more flexibility when managing out-of-pocket expenses and deductibles. These and the other initiatives in H.R. 6286, like expanding HSA compatibility, are commonsense solutions that would help to give Americans more control over their health care.
Thank you, Congressman Burgess, for recognizing that a top-down approach to health care simply doesn’t work for Americans, and for expanding the use of an established free-market health care management tool that helps to put personal medical decisions into the hands of the consumer. As an organization that supports market-driven solutions for the problems facing American health care, AMAC is happy to offer our full support for the Health Savings Act of 2020.
Sincerely,
Bob Carlstrom President, AMAC Action
