Democrats decry Health Savings Accounts (HSA) as a tax haven for the rich that simultaneously provides unaffordable coverage for average Americans. Many Democrats specifically target the HSA requirement to have a minimum deductible – currently set at $1,500 in 2023 – as burdensome on the middle class and poor. They say it is difficult, if not impossible, for low-income families to put away several hundred dollars a month to finance their out-of-pocket costs.
Congressman Doggett, the Ranking Member of the Health Subcommittee on Ways and Means put it clearly, “There are data showing that the majority of U.S. households have less than $3,000 in their checking and savings accounts, but the average deductible for an HSA is about $2,500. So, for many who have an HSA, an emergency can still wipe out families' savings ... Having an account doesn't mean you have much -- or any -- money in it.” His solution? Everyone should get an Obamacare plan or a new government-run health policy.
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