Congress now has the signature of the President on its Medicare prescription drug entitlement. Although the cost of the new entitlement program will be sky high, the legislation includes an important provision that will improve the health care system for women: Health Savings Accounts. Health Savings Accounts allow individuals to put money into a tax-free savings account dedicated for medical expenses. This provision will be particularly important to women who spend more on health care and are less likely to have coverage provided by their employers.
To date, discussions about Health Savings Accounts have been complex and have failed to articulate the important role they can play in making health care more accessible to all Americans. At IWF we believe that these accounts are the single most important part of this bill for women, and we are going to make it our business to help women understand how these accounts will work and what they can mean for women’s future health and financial security. To read more about the importance of Health Savings Accounts for women, read an advance copy of Michael Cannon’s forthcoming report, “How to Make Health Insurance Work for Women.”
And stay tuned to IWF for more information and specific examples of how these accounts can work for you!