Marco Rubio Brings Back Proposal to Expand Health Savings Accounts, Flexible Spending Accounts

U.S. Sen. Marco Rubio, R-Fla., brought back the “Health Savings Act” this week with the support of U.S. Sen. Tim Scott, R-SC.

The proposal was first championed by longtime U.S. Sen. Orrin Hatch, R-Utah, and U.S. Rep. Erik Paulsen, R-Minn. With Hatch retiring and Paulsen defeated in the 2018 election cycle, Rubio has championed the proposal on Capitol Hill.

“The Health Savings Act is a piece of legislation that contains a number of provisions to simplify and expand Health Saving Accounts (HSA) and Flexible Savings Accounts (FSA),” Hatch’s office noted back in 2916, adding that the bill “would allow individuals to use their account dollars to pay for over-the-counter medications—which includes homeopathic OTC products—without a doctor’s prescription. The legislation would also allow dietary supplements to be reimbursable expenditures from HSA and FSA funds.”

Rubio filed the bill this week and weighed in on why he continued to push it.

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

“As we continue to fight this pandemic, it has never been more crucial to give every American the flexibility and quality care that serves their individual health needs,” Scott said. “The last year has reminded us of the importance of empowering families to save and plan for future medical expenses. By giving those with health savings accounts more control over their own medical expenses, we can dramatically improve affordability and access to care for 22 million Americans.”

The bill was sent to the U.S. Senate Finance Committee on Tuesday. So far, there is no companion measure over in the U.S. House.

 

Reach Kevin Derby at kevin.derby@floridadaily.com.

 

KEVIN DERBY
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