Legislation to allow consumers to set up medical savings accounts appears to be moving slowly
Sept. 1, 1996
Legislation to allow consumers to set up medical savings accounts appears to be moving slowly through Congress, but finally moving. Congress has approved a package of small health reforms that would protect those who change jobs or have pre-existing conditions. It includes a provision for MSAs. Republicans and Democrats reached a compromise over MSAs, the tax-deductible accounts as an alternative to group health insurance for people willing to buy high-deductible policies. The deal would create
Legislation to allow consumers to set up medical savings accounts appears to be moving slowly through Congress, but finally moving. Congress has approved a package of small health reforms that would protect those who change jobs or have pre-existing conditions. It includes a provision for MSAs. Republicans and Democrats reached a compromise over MSAs, the tax-deductible accounts as an alternative to group health insurance for people willing to buy high-deductible policies. The deal would create a four-year pilot program, in which MSAs would be available only to the self-employed and those businesses with 50 or fewer workers. Congressional negotiations still must work out details.
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