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Condotta bill for health
savings accounts passed House, again
Rep. Cary Condotta, R-East
Wenatchee, today applauded his bill, allowing state employees to manage
their medical expenses using a health savings account (HSA), reaching
the House floor for a second vote.
“This exact bill, House Bill 1383, overwhelmingly passed the House last
year only to stall in the Senate,” said Condotta. “As more and more
private sector employers are offering HSAs to their employees, it only
makes sense that the House again pass my bill allowing the public sector
to offer this innovative, cost-saving option. I hope the Senate will
follow suit with quick passage as well.”
HSAs, authorized as part of the Medicare bill signed by President Bush
in 2003, are savings accounts individuals and families can use to pay
for health care expenses. Employers – in the case of my bill is the
state of Washington – may deposit a portion of the money formerly spent
on an employee’s health care premiums into a health savings account. The
remaining portion is used to purchase a low-cost, high deductible policy
that covers the employee in the event of a major medical expense.
“Making HSAs available to employees would save them money, offer a
financial reward for employees who manage their costs and give the
consumer the personal choice of a doctors and specialists,” said
Condotta. “It also offers a safety net for people who experience major
medical problems. It’s a major win for offering more choices in our
stagnant health care marketplace.”
He added that the current “gatekeeper” approach that stymies consumers
from seeing their doctor or specialist of choice is a complaint he hears
often.
“Health savings accounts are one solution to allow for flexibility and
choice and it promotes ownership of a very valuable health care plan,”
said Condotta.
He added that HSAs provide a more hands-on approach to health care and
would move the state health care system back to a true insurance system
which has time-tested success in the state. And, he says, it’s the only
solution considered this year that will actually cut the cost of health
care in the state.
“It’s time for Washington to begin to offer more flexible plans and
options to our state’s public sector employees,” said Condotta.
The benefits of Health Savings Accounts include:
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Many HMO-type plans
force patients to choose from a very limited list of health care
professionals. With HSAs, patients are free to choose the doctors
and specialists they like best.
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HSAs save money by
purchasing a lower-cost, high-deductible insurance plan.
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They offer an
additional retirement savings option.
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Employees experience a
tax savings because HSA contributions are tax deductible and earn
tax-deferred interest.
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The list of qualifying
medical expenses payable through the HSA system is very broad and
includes chiropractic, contact lenses and glasses, dental,
psychiatric care and surgery.
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For more information, contact:
Bobbi Cussins, Public Information Officer: (360) 786-7252
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