BUSH: To Propose Expansion of HSAs in State of the Union Address
‘President Bush in his State of the Union address on Tuesday plans to announce proposals that provide consumers with “more control over — and responsibility for — their medical spending” to help reduce health care costs, the Wall Street Journal reports. The proposals likely will focus on the expansion of health savings accounts, which are available with some high-deductible health plans. In addition, the proposals likely will include improved availability of health care price information and expanded use of information technology (Lueck, Wall Street Journal, 1/29). Bush also plans to propose additional tax breaks for individuals who purchase their own health insurance, similar to the tax breaks that employers receive when they provide health coverage for employees. According to the Philadelphia Inquirer, “Bush sees this as a fairness issue” because the “working poor and uninsured often must pay out of pocket for insurance and get little tax relief” (Hall/Pugh, Philadelphia Inquirer, 1/30). Bush also plans to propose to allow individuals to retain their health coverage when they change jobs without additional costs (Washington Post, 1/29). In addition, Bush likely will announce proposals that have previously failed in Congress, such as a plan to allow small businesses to form association health plans across state lines and a plan to cap damages in medical malpractice lawsuits (Philadelphia Inquirer, 1/30).’
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