GOP Bill Would Ease Rules On Health Savings Accounts

Law360, New York (May 23, 2013, 7:39 PM EDT) -- Republicans in both houses of Congress on Thursday introduced legislation to significantly loosen rules on tax-advantaged health savings accounts and flexible spending accounts, a push that comes as employers' increasing use of high-deductible health insurance plans makes such arrangements more common.

The Family and Retirement Health Investment Act of 2013 would “remove the onerous new restrictions” that since 2011 have prevented use of HSA and FSA funds for purchase of over-the-counter medicines without a doctor’s prescription, proponents said in a statement.

Also, spouses would be able...
To view the full article, register now.