Bera Introduces Legislation to Protect Employees Health Savings Accounts
Washington, D.C. – Congressman Ami Bera, M.D. joined Congressman Charles Boustany, M.D. to introduce legislation that would protect employees’ health savings accounts.
H.R. 4832, the Health Savings Protection Act, addresses the so-called Cadillac tax, which aims to reign in excessive health spending, but in reality would shift more costs to patients and has led many employers to threaten to stop providing health savings accounts, citing the fact that they are subject to a tax on their employees’ contributions. Bera and Boustany’s legislation would exempt contributions to health savings plans from being taxed.
“We should not punish those who are doing the right thing and saving for potential health care costs,” Bera said. “The Cadillac tax, while intended to lower the cost of health care, has threatened health savings accounts, which are a practical, efficient ways for people to save for unforeseen medical costs. This bipartisan bill is an important step towards fixing the Cadillac tax and helps businesses and employees avoid additional costs while ensuring continued access to health care.”
Congressman Ami Bera, M.D. represents Sacramento County. Born and raised in California, Bera is a physician and the only Indian American currently serving in Congress. He’s fighting to rebuild an economy that works for middle class families and to reduce our country’s debt in a responsible way. One of Bera’s first acts in Congress was to help lead the effort to pass the No Budget No Pay Act, which says if members of Congress don’t pass a budget, they don’t get paid. As a leader of the No Labels' Problem Solvers, he’s working with people from both parties to find bipartisan solutions to our nation’s challenges. He and his wife Janine live in Elk Grove with their daughter Sydra. For more updates on Rep. Bera follow @RepBera on Twitter, like Congressman Bera on Facebook, or visit https://www.bera.house.gov.