Latta sponsors legislation to help senior citizens boost healthcare savings

U.S. Rep. Bob Latta (R-OH) on Jan. 30 introduced legislation that would permit America’s senior citizens to increase their healthcare savings accounts.

The Stop Penalizing Working Seniors Act, H.R. 908, would amend the Internal Revenue Code of 1986 to allow individuals only enrolled in Medicare Part A – which covers hospital care – to contribute to health savings accounts (HSAs), according to the congressional record summary.

“After hearing from constituents, I’ve introduced the Stop Penalizing Working Seniors Act. This legislation will make HSAs easier to use by fixing the technicality that prohibits individuals that are receiving Social Security benefits from contributing to their HSAs,” Rep. Latta said.

The congressman originally introduced a similar bill during the 115th Congress after hearing from married constituents who were automatically enrolled in Medicare Part A after one of them began receiving Social Security benefits, according to his office.

The bill was included as a provision in the Increasing Access to Lower Premium Plans and Expanding Health Savings Account Act, H.R. 6311, which in July 2018 received U.S. House approval, but stalled in the U.S. Senate.

“I’ll continue to work on health care policies that lower costs and increase options for patients,” Rep. Latta said on Jan. 30 following introduction of H.R. 908, which is cosponsored by four Republican congressmen.

HSAs allow individuals to make tax-free contributions and use the money for qualified medical expenses, according to Latta’s statement, which cited data from the Employee Benefit Research Institute showing that more than 21 million Americans now have HSAs.

“Health Savings Accounts are becoming more and more popular as Americans are finding them helpful in meeting their health care needs,” said Rep. Latta. “Unfortunately, provisions included in Obamacare and other health care legislation often make it unnecessarily difficult to contribute to or use an HSA.”

H.R. 908 has been referred for consideration to the U.S. House Ways and Means Committee.