Political Quotes

Phil Gingrey: “It is my understanding too that in these accounts, that money that the gentleman described is growing at compound…”

On the recordNovember 20, 2003
It is my understanding too that in these accounts, that money that the gentleman described is growing at compound interest, the tax on that is deferred, and that this money of course can be used, as I understand it, for anything related to health. I mean, it can do the things that a lot of people are now spending money on for the so-called Medigap insurance. It could take care of that. It is my understanding also that one could pay for long-term care, to purchase a long-term care policy out of that account. Is that also the gentleman's understanding?
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Phil Gingrey
Georgia
Source
govinfo.gov

Editor's note · Context

Discussing the benefits of health savings accounts during a House floor debate.

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