Representative Roy reintroduces the Healthcare Freedom Act
WASHINGTON — Today, Representative Roy reintroduced the Healthcare Freedom Act to take back control of the healthcare system for the American people. This bill would massively expand health savings Accounts (HSAs) to allow for greater flexibility and personalization of healthcare decisions.
The Healthcare Freedom Act would create “Health Freedom Accounts” modeled after the current HSA. But, unlike restricted HSAs, this bill would allow anyone to hold a Health Freedom Account and allow tax-free withdrawals for insurance premiums, direct primary care, healthcare-sharing ministries, and other medical cost-sharing organizations. Importantly, this bill would level the playing field between employer-sponsored health insurance and HSAs.
This bill is a crucial step to disrupting our broken healthcare system, restoring free market practices, lowering costs, and giving Americans access to the high quality of care they deserve.
The Healthcare Freedom Act would:
- Allow anyone to hold a HSA by decoupling HSAs from high-deductible health plan insurance requirements.
- Increase annual contributions from $4,300 to $12,000 for an individual and from $8,550 to $24,000 for a joint return.
- Allow penalty-free rollover contributions between HFA accounts.
Rep. Roy says, “It’s time to give freedom back to Americans to choose their own care instead of government bureaucrats. With the Healthcare Freedom Act, Congress can finally disrupt the broken healthcare system, restore free market practices, lower costs, and give Americans the quality of care they deserve.”
The full text of the bill can be read here.
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