Scott, Rubio Reintroduce Bill to Ease Health Care Burden for American Workers, Retirees

WASHINGTON – U.S. Senator Tim Scott (R-S.C.) joined Senator Marco Rubio (R-Fla.) in reintroducing the Health Savings Act, which would simplify and expand Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs). These health care accounts provide Americans opportunities to save on medical costs through tax-deductible contributions.

U.S. Representative Jake LaTurner (R-Kansas) introduced companion legislation in the House.

“President Biden’s inflationary spending is causing the cost of everything to go up, including health care. Our proposal makes it easier for hardworking Americans to manage their health care by expanding flexibility and increasing access to quality care,” said Senator Scott.

“Health savings accounts empower families and individuals to have more financial control in their health care choices. I am proud to reintroduce this commonsense, pro-family and bicameral legislation to make managing the cost of health care more feasible for the American people,” said Senator Rubio.

“As inflation continues to crush family budgets, it’s crucial that Congress works to provide Americans with increased flexibility and lower costs when it comes to their health care. For over a decade, tax-free Health Savings Accounts and Flexible Spending Accounts have helped drive down costs and provided Americans with additional options to cover out-of-pocket expenses. I am proud to introduce the Health Savings Act with Senator Rubio to expand and update medical savings accounts to give Americans more flexibility and financial control over their health care,” said Representative LaTurner. 

Full text of the Health Savings Act can be found here.