CHPA submits statement for hearing on benefits of consumer-directed health plans
The Consumer Healthcare Products Association, a national trade association representing manufacturers and marketers of OTC medicines and dietary supplements, applauded the U.S. House Ways and Means Health Subcommittee for Wednesday’s hearing on the benefits of consumer-directed health plans and submitted a statement reiterating its support of legislation to restore OTC eligibility under tax-preferred healthcare accounts.
The hearing, announced in late May by House Ways and Means Health Subcommittee chairman Peter Roskam, R-Ill., examined trends in enrollment and demographics for health spending account holders and the benefits of consumer-directed health care. It also examined policies designed to give more consumers access to tax-favored savings accounts, including Health Savings Accounts.
“Connecting consumers to their health care dollars through consumer-directed health plans is a proven way to reduce health care costs. New data shows that Health Savings Accounts continue to grow and are an important tool used by millions of Americans to reduce the ever-increasing burden of high health care costs. This Health Subcommittee hearing will examine how these accounts are working for Americans today and policies that could increase access to them. We look forward to hearing from our expert witnesses and hope that their testimony will inform our work to lower health care costs,” said Roskam upon announcing the hearing.
The hearing drew praise from the CHPA. “CHPA applauds the U.S. House Ways and Means Health Subcommittee for today’s hearing, examining the benefits of consumer access to tax-preferred savings accounts, including Health Savings Accounts (HSAs) and Flexible Spending Arrangements (FSAs).”
“Since 2011, a provision in the Affordable Care Act (ACA) has prevented consumers from using savings from their tax-preferred HSA and FSA accounts to purchase over-the-counter (OTC) medicines without a prescription. This Congress, bipartisan, bicameral legislation has been introduced to restore the ability of consumers to use their FSAs and HSAs to purchase OTC medicines. The legislation, “Restoring Access to Medication Act (RAMA) of 2017” (H.R. 394 and S. 85), was introduced in the U.S. Senate by Senators Pat Roberts (R-Kan.) and Heidi Heitkamp (D-N.D.), and in the U.S. House by Representatives Lynn Jenkins (R-Kan.) and Ron Kind (D-Wis.),” CHPA added.
Added CHPA in its submitted statement, “Restricting consumers’ ability to utilize their own FSAs and HSAs and other tax-preferred accounts imposes an unfair cost increase on individuals and families at a time when many are struggling financially.”
The hearing, announced in late May by House Ways and Means Health Subcommittee chairman Peter Roskam, R-Ill., examined trends in enrollment and demographics for health spending account holders and the benefits of consumer-directed health care. It also examined policies designed to give more consumers access to tax-favored savings accounts, including Health Savings Accounts.
“Connecting consumers to their health care dollars through consumer-directed health plans is a proven way to reduce health care costs. New data shows that Health Savings Accounts continue to grow and are an important tool used by millions of Americans to reduce the ever-increasing burden of high health care costs. This Health Subcommittee hearing will examine how these accounts are working for Americans today and policies that could increase access to them. We look forward to hearing from our expert witnesses and hope that their testimony will inform our work to lower health care costs,” said Roskam upon announcing the hearing.
The hearing drew praise from the CHPA. “CHPA applauds the U.S. House Ways and Means Health Subcommittee for today’s hearing, examining the benefits of consumer access to tax-preferred savings accounts, including Health Savings Accounts (HSAs) and Flexible Spending Arrangements (FSAs).”
“Since 2011, a provision in the Affordable Care Act (ACA) has prevented consumers from using savings from their tax-preferred HSA and FSA accounts to purchase over-the-counter (OTC) medicines without a prescription. This Congress, bipartisan, bicameral legislation has been introduced to restore the ability of consumers to use their FSAs and HSAs to purchase OTC medicines. The legislation, “Restoring Access to Medication Act (RAMA) of 2017” (H.R. 394 and S. 85), was introduced in the U.S. Senate by Senators Pat Roberts (R-Kan.) and Heidi Heitkamp (D-N.D.), and in the U.S. House by Representatives Lynn Jenkins (R-Kan.) and Ron Kind (D-Wis.),” CHPA added.
Added CHPA in its submitted statement, “Restricting consumers’ ability to utilize their own FSAs and HSAs and other tax-preferred accounts imposes an unfair cost increase on individuals and families at a time when many are struggling financially.”