HealthEquity said it “participated in drafting” the Health Savings for Seniors Act, which was introduced to the House July 18 by Reps. Ami Bera, D-Calif., and Jason Smith, R-Mo. The bill intends to allow more than 57 million Medicare beneficiaries to open and contribute to an HSA without any changes to their Medicare coverage.
HealthEquity said the bill could save a retired couple $1,800 per year, according to the press release.
The legislation comes on the heels of a move by the IRS and Treasury Department on July 17 that expanded what is considered preventive care under high-deductible health plans to include more services and treatments for people with chronic illnesses. The notice was issued to comply with a June 24 executive order from President Donald Trump calling for guidance on expanding high-deductible health plans with HSAs to cover low-cost preventive care for people with chronic conditions.
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