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Cassidy Proposes $2000 HSA Credits- "Virtuous Prefunded HSA"
Posted on 4/14/26 at 1:33 pm
Posted on 4/14/26 at 1:33 pm
His proposal would give individuals more money in advance to cover out-of-pocket costs through refundable tax credits that could amount to as much as $2,000 for a family of four. Those dollars would go into a health savings account (HSA) that would be available to help the account holder to cover deductibles under their health plan or out-of-pocket expenses.
"What's really novel here is putting more money in people's pockets with an advanceable tax credit, pre-funding a health savings account," Cassidy said. "Right now you're more incentivized to have a health savings account if you're in a higher tax bracket. In this case, we're pre-funding, so even if you aren't in a higher tax bracket, it's pre-funded for you."
He said the pre-funded HSAs would make it easier for a household to get a health insurance policy that has lower premiums and is primarily focused on big ticket items by giving them greater means to cover standard expenses with the funds in their HSA.
"It's a virtuous cycle that ends up in many ways benefiting the patient's health and benefiting their pocketbook," Cassidy said.
LINK
"What's really novel here is putting more money in people's pockets with an advanceable tax credit, pre-funding a health savings account," Cassidy said. "Right now you're more incentivized to have a health savings account if you're in a higher tax bracket. In this case, we're pre-funding, so even if you aren't in a higher tax bracket, it's pre-funded for you."
He said the pre-funded HSAs would make it easier for a household to get a health insurance policy that has lower premiums and is primarily focused on big ticket items by giving them greater means to cover standard expenses with the funds in their HSA.
"It's a virtuous cycle that ends up in many ways benefiting the patient's health and benefiting their pocketbook," Cassidy said.
LINK
This post was edited on 4/14/26 at 1:55 pm
13
Posted on 4/14/26 at 1:36 pm to ItzMe1972
Orrrrr and hear me out, you just cut taxes more and stop spending on frivolous bs and back room deals to enrich yourselves and your benefactors
Posted on 4/14/26 at 1:40 pm to ItzMe1972
quote:
giving them greater means to cover standard expenses with the funds in their HSA
Only idiots would do this the best thing to do is invest the HSA and let it grow and not touch it until 65.
Posted on 4/14/26 at 1:42 pm to ItzMe1972
Sounds like his internal polling numbers don't look so good.
Posted on 4/14/26 at 1:43 pm to ItzMe1972
quote:
Cassidy Proposes $2000 HSA Credits- "Virtuous Prefunded HSA"
Right on cue, just like a true liberal. When the election looks to be going south on you, start promising free shite to voters.
Posted on 4/14/26 at 1:44 pm to ItzMe1972
Don't trust him. Already have HSA. Probably would make "too much" to participate in his scheme anyway.
Posted on 4/14/26 at 1:46 pm to ItzMe1972
quote:
Cassidy's plan also looks to empower Americans with knowledge about the foods they're consuming by changing labels to signify the level of health risk an item poses.
"The label I have an idea of would be very simple – you look at the label: is this more or less likely to cause diabetes? Green would be less likely, red would be more likely, and yellow would be somewhere in between. And you could just look at the food. You don't have to read a table, you don't have to kind of figure out what percent of my daily allowance this is," he said.
...what an absolute retard.
Posted on 4/14/26 at 1:48 pm to RougeDawg
There are no income limits on Health Savings Account.
HSA's have two advantages when you turn 65
A: You can use funds for any purpose, including non-medical
B. you can use HSA funds tax-free for Medicare premiums (Part A, B, C, D) and long-term care premiums
The idea is to invest contributions and let it grow not to use them for your diabetes medications or for a yearly eye exam. That is just stupid.
HSA's have two advantages when you turn 65
A: You can use funds for any purpose, including non-medical
B. you can use HSA funds tax-free for Medicare premiums (Part A, B, C, D) and long-term care premiums
The idea is to invest contributions and let it grow not to use them for your diabetes medications or for a yearly eye exam. That is just stupid.
This post was edited on 4/14/26 at 1:49 pm
Posted on 4/14/26 at 1:55 pm to ItzMe1972
Still would never vote for him.
Posted on 4/14/26 at 1:56 pm to ItzMe1972
quote:
His proposal would give individuals more money in advance to cover out-of-pocket costs through refundable tax credits that could amount to as much as $2,000 for a family of four.
I might be missing something here.
Tax credits are from last year, not in advance.
Could be as much as $500 per person.......what determines the limit?
Just quit taking my money.
Posted on 4/14/26 at 1:58 pm to ItzMe1972
Hospital billing departments will vacuum up that extra $2000 like it never even existed.
Posted on 4/14/26 at 2:02 pm to ItzMe1972
people will downvote because it’s Cassidy and they see it as government handouts, but this is the way.
The end goal should be to replace Medicare/Medicaid and cut out the insurance companies by instituting pre-funded HSA’s connected to your employer’s HSA. This would save the government a ton of money and individuals would be better off.
The end goal should be to replace Medicare/Medicaid and cut out the insurance companies by instituting pre-funded HSA’s connected to your employer’s HSA. This would save the government a ton of money and individuals would be better off.
Posted on 4/14/26 at 2:05 pm to Sweep Da Leg
quote:
Orrrrr and hear me out, you just cut taxes more and stop spending on frivolous bs and back room deals to enrich yourselves and your benefactors
i’m a conservative, but this is just fox news/boomer slop. how exactly is your plan going to reduce the cost of healthcare?
Posted on 4/14/26 at 2:08 pm to ronricks
quote:
The idea is to invest contributions and let it grow not to use them for your diabetes medications or for a yearly eye exam
In a perfect world, yes. But in the real world, not everyone can stash $8750 and cover medical bills at the same time. Just being able to pay medical bills tax free is a benefit for most Americans. The idea that it's investible and can be withdrawn tax free at 65 is a HUGE benefit, but not attainable for a lot of us.
FTR- I was able to open an HSA this year for the first time, and fortunately, I am able to fully fund it and keep it to invest for this year. I hope to be able to do that next year as well, but we'll just have to see how things go.
Posted on 4/14/26 at 2:24 pm to ItzMe1972
quote:
He said the pre-funded HSAs would make it easier for a household to get a health insurance policy that has lower premiums
Lower premiums? High-deductible health plans used to have lower premiums years ago, but this is no longer true. Not surprising that Bill is unaware of this reality.
Posted on 4/14/26 at 2:27 pm to OysterPoBoy
quote:
Hospital billing departments will vacuum up that extra $2000 like it never even existed.
Yahtzee
Posted on 4/14/26 at 2:27 pm to ItzMe1972
What a truly idiotic plan
Posted on 4/14/26 at 2:28 pm to ItzMe1972
quote:
Cassidy
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