For Immediate Release
July 7, 2016
ABA Media Contact: John Hall
(202) 663-5473
Email: jhall@aba.com
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ABA’s HSA Council Applauds House Passage of HSA-Related Bill H.R. 1270

Statement by Kevin McKechnie, executive director, ABA’s Health Savings Account Council

​“The American Bankers Association’s HSA Council applauds the House of Representatives for its passage of H.R. 1270, Restoring Access to Medication Act. This bill provides an expansion of Health Savings Accounts (HSAs) to cover the health care needs of more Americans, including the purchase of over-the-counter medications, while increasing the amount people can contribute to their HSAs each year. 
 
“These increased contributions will allow families and individuals to save more in their HSAs – up to the maximum out-of-pocket limits proscribed by current law.  The bill also makes some much needed administrative relief for HSA owners, including allowing both spouses to make their catch-up contributions to their joint account.
 
“We are pleased the House expanded access to HSAs. The goal of healthcare reform was to provide better coverage to all Americans at more affordable prices.  Expanding the utility of HSAs helps accomplish this goal. “
 
The HSA Council is an organization of banks, insurers and technology leaders committed to increasing the adoption velocity of health savings accounts in the United States. The HSA Council represents its members before Congress, the White House and U.S. Courts in order to preserve the ability of Americans to pay for healthcare using an HSA.
 
The American Bankers Association is the voice of the nation’s $16 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $12 trillion in deposits and extend more than $8 trillion in loans.
 
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