Choose: Health Savings Account Contributions Instead of Reduced Cost-Sharing
This new bill allows individuals with health insurance plans from the Exchange to choose between receiving contributions to a Health Savings Account (HSA) or continuing with reduced cost-sharing. This aims to provide greater flexibility in managing healthcare expenses and potential savings. The changes will take effect after December 31, 2025.
Key points
Option to choose: Instead of reduced cost-sharing, you can receive contributions to a Health Savings Account (HSA) if you have a high-deductible health plan from the Exchange.
HSA Contributions: Your health insurer will make payments to your HSA, and the government will reimburse the insurer. The amount will be equivalent to the value of the cost-sharing reductions you would have received.
HSA Spending Restrictions: Funds from these specific HSA contributions can only be spent using a special debit card for qualified medical expenses.
Public Education: Starting January 1, 2026, health insurers and Exchanges must provide information about this new option and how to establish and use an HSA.
Insurer Requirement: Insurers offering silver-level plans must also offer equivalent high-deductible health plans that qualify for HSA contributions.
Introduced
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