Religious non-profit groups that pool medical expenses would be able to use health savings accounts (HSAs) rather than high-deductible insurance plans under bipartisan legislation recently introduced by U.S. Rep. Mike Kelly (R-PA).
The Faith in Health Savings Accounts Act, H.R. 2310, would permit Health Care Sharing Ministries (HCSMs) to access HSAs, which are only available to taxpayers who purchase high-deductible plans under current law.
“As its name suggests, this common sense bill is based on widespread faith in HSAs as a powerfully effective tool to make health care more affordable, along with our belief that Americans who pay into HCSMs deserve access to them,” Kelly, a member of the House Ways and Means Committee, said.
“This is about guaranteeing fairness, financial savings and greater peace of mind to countless faith-based households currently being neglected by our nation’s outdated tax code,” Kelly added. “The Faith in HSAs Act sets things right.”
Dave Weldon, the president of the Alliance for Health Care Sharing Ministries, said he was delighted to see Kelly and U.S. Rep. Collin Peterson (D-MN) reintroduce H.R. 2310.
“This will help the more than one million Americans who currently choose health care sharing to better meet their medical needs and expenses,” Weldon said. “I applaud the leadership and friendship Rep. Kelly and Rep. Peterson have extended to our community and the parity this bill offers.”