Washington, D.C. – The U.S. House of Representatives passed Congressman Erik Paulsen’s (MN-03) Health Care Security Act, sending the bipartisan legislation to the U.S. Senate for approval. The bill would expand access to Health Savings Accounts (HSAs) and make them easier to use. These reforms provide more health care choices and flexibility for individuals and families in Minnesota and across the country.

“Millions of Americans depend on HSAs to pay for health care costs for themselves and their families because of the choice and flexibility they offer,” said Paulsen. “We need to continue making access to these accounts easier and further empower patients through these bipartisan, commonsense improvements.”

Health care costs in the U.S. are expected to rise by an average of 5.8 percent each year from now until 2024. HSA-eligible plans provide individuals with opportunities to put away tax-free savings for everyday medical costs. When Congress first made HSAs available, these plans covered over 454,000 lives. Today, 19.7 million individuals are covered under a health plan that is eligible for an HSA.

Click on the video below for Congressman Paulsen’s remarks on the bill on the House floor: 

The Health Care Security Act passed as part of a larger bill—the Restoring Access to Medication Act, or H.R. 1270—authored by Rep. Lynn Jenkins (KS-02).

Paulsen, a champion of small business and advocate of free enterprise, entrepreneurship, and innovation, serves on the House Ways and Means Committee, the bicameral Joint Economic Committee, and is co-chair of the Congressional Medical Technology Caucus.

For more information on Congressman Paulsen’s work in Congress visit Paulsen.house.gov.

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