The Family and Retirement Health Investment Act of 2011
Strengthening and expanding your HSA and FSA accounts!
This recently introduced bill in the U.S. Congress would modify and streamline rules for health savings accounts and flexible spending accounts to help participants.
- Allow a husband and wife to make catch-up contributions to the same HSA
- Remove the requirement that an individual have a physician’s prescription to obtain HSA or FSA reimbursement for OTC drugs
- Allow individuals to roll-over up to $500 from their FSA accounts
- Clarify the use of prescription drugs as preventive care that will not be subject to an HSA-eligible plan deductible
- Reauthorize the use of Medicaid health opportunity accounts
- Promote wellness by expanding the definition of qualified medical expenses to encourage more exercise and better diet
- Allow seniors enrolled in Medicare Part A to continue contributing to their HSAs
- Allow for the purchase of low-premium health insurance and long-term care insurance with HSA Dollars.
The Complete Bill can be found at Open Congress