New legislation from Congressman Greg Steube and Congresswoman Kat Cammack of Florida offers Americans who depend on health safety nets another option, ensuring they have the same access to quality, affordable health care as wealthier individuals and families. The ACCESS Act would give over 5 million lower-income Americans greater access to needed care. By creating a tax-free health savings account (HSA) option, participants could use their HSA funds to see doctors they trust. They could also purchase medical items and personalized services directly – even if they’re not covered by insurance.
But it’s not just lower-income Americans who would benefit. Because the HSA option will increase competition throughout the healthcare system, costs will be lower for everyone. Taxpayers would benefit, too. The bill would make existing health subsidies more efficient, saving taxpayers an estimated $29 billion over ten years.