Bipartisan legislation sponsored on Sept. 28 by U.S. Rep. Mike Carey (R-OH) would permit individuals eligible for U.S. Department of Veterans Affairs (VA) benefits to contribute to health savings accounts (HSAs) without regard to a non-service-related disability.
“We owe every brave man and woman that put on this nation’s uniform a debt of gratitude,” Rep. Carey said. “They served selflessly and should not be burdened by bureaucratic hurdles when attempting to access their health savings accounts.”
Specifically, the Veterans HSA Access Act of 2023, H.R. 5787, which has four original cosponsors, including U.S. Reps. Mike Kelly (R-PA), Randy Feenstra (R-IA), and Jared Golden (D-ME), would allow disabled veterans who were injured in non-service-related incidents to continue contributing to their HSA even if they receive other VA health benefits, according to a bill summary provided by Rep. Carey’s staff.
Currently, federal law requires non-service-connected disabled veterans to wait three months before they’re able to contribute to their HSA, the summary says.
“Our common-sense, bipartisan bill ensures that disabled veterans will be able to fully utilize their health benefits in a timely fashion,” said Rep. Carey.
H.R. 5787 has been endorsed by Concerned Veterans for America, Americans for Prosperity, the HSA Coalition, the American Benefits Council, and the Employers Council on Flexible Compensation.
“Arbitrary standards prevent veterans from contributing to their health savings accounts without delays,” Rep. Golden said. “Veterans should be able to use all available resources to manage out-of-pocket healthcare costs for themselves and their families. I’m proud to work across the aisle to reduce these barriers.”