Three Cheers for Sen. Hatch
The Family and Retirement Health Investment Act of 2011 will:
The Family and Retirement Health Investment Act of 2011 will:
- Allow a husband and wife to make catch-up contributions to the same HSA;
- Remove the onerous new restrictions on the use of HSA and FSA dollars for the purchase of over-the-counter drugs;
- Allow individuals to roll-over up to $500 from their FSA accounts;
- Clarify the use of prescription drugs as preventive care that will not be subject to an HSA-eligible plan deductible;
- Reauthorize the use of Medicaid health opportunity accounts;
- Promote wellness by expanding the definition of qualified medical expenses to encourage more exercise and better diet;
- Allow seniors enrolled in Medicare Part A to continue contributing to their HSAs; and
- Allow for the purchase of low-premium health insurance and long-term care insurance with HSA dollars.
Read full post on the Family and Retirement Health Investment Act of 2011.
