HSA Update

In December, 2006, Congress passed and President Bush signed into law The Tax Relief and Health Care Act of 2006 (P.L. 109-432).

This legislation extended certain tax provisions, made changes to Medicare and Medicaid, and made a number of changes to improve Health Savings Accounts to make them more accessible.

NAHU worked very hard to get these HSA changes made before the end of the 109th Congress. In addition to direct lobbying of members of Congress by both our members and staff lobbyists regarding these issues, NAHU gave written testimony to the US Senate Committee on Finance. and the House Ways and Means Committee last fall. One of our members, Eric Biettel of Pennsylvania, was invited in September to testify before the US Senate Committee on Finance. to urge Congress to make these improvements.

The new HSA provisions for 2007 raise contribution limits and make the accounts more flexible. The new law lets people fund their HSAs with one-time transfers from their Individual Retirement Accounts, and allows people to contribute up to the annual limit of $2,850 regardless of the deductible for their insurance plan. HSA account holders may now also fully fund their HSAs regardless of what time of year they sign on to a plan.

Click here to view more detail about the new changes to HSAs for 2007!!!

New Medicare Open-Enrollment Information

Click here for new Medicare Open-Enrollment information.

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