Steve A. Von Loor Announces Support for HSAs

Steve A. Von Loor Announces Support for HSAs

There are many problems with healthcare in the United States. Here is a bipartisan solution to help alleviate the issue:

An issue that never ceases to exit public debate is healthcare, and for good reason. Few things are more important than the health of our citizenry, but the steps the government have taken to “improve access,” have done just the opposite.

To expand choice and reduce costs in healthcare, we must move towards real market-oriented reform. An important step in this direction is expanding the use of Health Savings Accounts (HSAs). HSAs let individuals save money, exempt from taxation, to spend on future healthcare-related expenditures. Americans can build savings that they can then use based on their own discretion, which is far better than any state-mandated alternative, as people will almost always spend their own money better than they spend other people’s money, i.e. through the government.

Expanding HSAs will stimulate greater competition in the healthcare marketplace, and help middle class Americans deal with burgeoning insurance premiums that are wiping out savings with their increasing costs. Americans recognize this and this is indicated by the fact that more and more Americans (over 21 million!) are opting to use HSAs as they stand.

How can we do better? Increase contribution limits. Let Americans save more, so they can rest easy, even in the face of high medical expenditures. It would also act as a sort of tax cut, which would serve to boost the economy and drive economic growth even higher. The list of qualified HSA expenditures should also be expanded to include more health-related expenses, especially healthcare insurance, which already costs Americans enormous amounts of money (largely because of a laundry list of government regulations).

This is, of course, one step in the fight for healthcare reform, but it’s an important one, one that can be done without repealing the entire structure of Obamacare, which the Republicans seem unable to do. This idea is at the heart of Rep. Dave Brat’s and Sen. Jeff Flake’s Health Savings Account Expansion Act, which I enthusiastically support. If elected, I will work towards pushing such legislation to help bring healthcare costs down for all Americans.