Press Release: HSA Bank Educates the Healthcare Industry on AHCA and the Potential Expansion of HSAs to More Americans
Milwaukee, June 8, 2017 — HSA Bank, a division of Webster Bank, N.A., hosted a speaker session at the America’s Health Insurance Plans (AHIP) Institute & Expo in Austin, Texas this morning in conjunction with the release of its latest perspective paper entitled "American Health Care Act Passes the House: Indicates Favorable Changes for HSAs and CDH Plans."
At the AHIP Institute & Expo, Kevin Robertson, senior vice president, chief revenue officer; Jason Kessler, senior vice president, director of product management; and Sanders McConnell, vice president, business development manager from HSA Bank shared their perspectives on the potential impacts to health savings accounts (HSAs) under the new administration that may broaden the availability of HSAs to more Americans. HSA Bank executives discussed proposals for continued enhancements to the existing HSA structure and expansion ideas such as creating a Medicare HSA option, elevating funding limits, and broadening the definition of high deductible health plans (HDHPs).
The relating paper, co-authored by Robertson and Chad Wilkins, executive vice president and head of HSA Bank, provides insight into the six specific impacts on HSAs and consumer-directed healthcare (CDH) outlined in the American Health Care Act (AHCA), as passed by the House, with a focus on why these impacts are substantial and how they will positively impact individuals' ability to own their health.
"Although the exact path forward is still unclear, the passing of AHCA in the House adds momentum to an already optimistic and exciting future for health savings accounts,” said Wilkins. “We anticipate the market growth continuing for the foreseeable future with HSA plans representing a significant percentage of the over 170 million commercially-insured in the United States."
To learn more about how recent legislative efforts favor HSAs and CDH plans, download a copy of the paper today at hsabank.com/AHCA.
About HSA Bank
At HSA Bank, we’re working toward a world where everyone is empowered to save for a healthy future. By providing the right tools and resources, we make it simple for our 3 million members nationwide to maximize their savings for healthcare and long-term goals. As a leader in health accounts for over two decades, we continue to innovate. Our offerings in the healthcare savings space drive down healthcare costs, increase access, and assist with decision-making for consumers, health plans, partners, and advisors. As of September 30, 2020, HSA Bank had $9.4 billion in total footings comprising $7.0 billion in deposit balances and $2.4 billion in assets under administration through linked investment accounts.