Ed Royce: “I rise to support H.R. 6111, the Tax Relief and Health Care Act of 2006. The bill contains a package of provisions…”

“I rise to support H.R. 6111, the Tax Relief and Health Care Act of 2006. The bill contains a package of provisions designed to improve Health Savings Accounts, HSAs. HSAs were enacted by the Medicare Prescription Drug, Improvement, and Modernization Act of 2003. An HSA is a tax-exempt account to which tax-deductible contributions may be made by individuals with a high deductible health plan. HSAs empower Americans to make informed decisions about their health care choices. Instead of being tied into a traditional plan that limits choice, and distances the consumer from the healthcare market, HSAs allow individuals to take an active role in the choosing how to spend their money. This bill will: Allow rollovers From Health FSAs and HRAs into HSAs; Repeal the Annual Plan Deductible Limitation on HSA Contributions; Modify the Cost-of-Living Adjustment; Expand the Contribution Limitation for Part-Year Coverage; Modify employer comparable contribution requirements for contributions made to non-highly compensated employees; and Allow one-time roll overs from IRAs into HSAs. Health Savings Accounts help families more easily access quality health care and save for medical costs. This bill will expand HSAs to help provide more Americans with health care coverage.”