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.