Whether or not you agree with Health Savings Accounts or not, they are pretty much here to stay. A tax panel in the House of Representatives voted to approve legislation that allows people to put more money in their health savings accounts. Under this potential new legislation you would also be allowed one time transfers from your IRAs and other transfers from flex spending accounts.
The backing of this bill is mainly from Republicans, causing much debate in this election year. Republicans state that the bill makes insurance more affordable and attractive. However, Democrats are saying that the bill is only a tax break, not really health care policy. They go on to say that the bill only helps the wealthy and threatens traditional health insurance.
Depending on what side you are on, remember that this bill is not quite law…yet. The bill will probably be put on the backburner until after the break and the elections.
You can view more about this bill at eMax Health.
