Ed Royce: “currently employers and employees can set aside pre-tax money that can be used for out-of-pocket health care expenses…”

“currently employers and employees can set aside pre-tax money that can be used for out-of-pocket health care expenses and co-payments and deductibles, and these are called flexible spending accounts. There is a problem in the current law, Mr. Speaker, and that is, if our constituents use these accounts and they do not completely use them up at the end of the year, that money reverts to the employer. I have a bill, H.R. 3034, that would fix this use-it-or-lose-it provision and would allow this to be rolled over from year to year; and basically under my legislation, which I hope the House will pass, $3,000 annually can be put into these accounts. This would help portability. In other words, these accounts can go from job to job as employees change jobs. It would boost consumer choice because one would not be locked into the current health insurance plan. They could use this money at their own discretion. It would help the doctor-patient relationship by empowering consumers to make their own decisions about their own health care needs, and it would help control health insurance costs. I hope all of my colleagues, Mr. Speaker, will support this legislation.”