Dave Camp: “HSAs already have a built-in enforcement mechanism that seeks to ensure HSA funds are spent on qualified medical…”

“HSAs already have a built-in enforcement mechanism that seeks to ensure HSA funds are spent on qualified medical expenses. If a person spends those dollars on a nonqualified expense, they're subject to individual income taxes and a 10 percent penalty. The IRS also has the right to audit HSA withdrawals. Americans are concerned about the cost of health care. Before Congress rushes to impose new burdens on HSAs, the one innovation that helps patient-centered, individual health care, helps individuals take control of their health care, we should find out first if there really is a problem, and then, how we can fix it without restricting the ability of consumers to take greater control of their health care decision making. I urge my colleagues to reject this flawed legislation.”