WASHINGTON, D.C., September 27, 2006 - As the House Committee on Ways and Means moved forward today with legislation to improve Health Saving Account (HSA) adoption, National Association of Manufacturers Vice President of Human Resources Policy Jeri Gillespie said, "We applaud the House Committee for taking action to promote and improve HSAs and doing so will increase the viability and appeal of the HSA program."
The bill, the Health Opportunity Patient Empowerment Act (H.R. 6134), introduced by Reps. Eric Cantor (R-VA) and Paul Ryan (R-WI) would decrease barriers for employer contributions and facilitate HSA coordination and conversion with other consumer-oriented options.
"Clearly, Reps. Cantor and Ryan understand the need for viable consumer-oriented heath care options, and we thank them for their leadership in getting this important legislation to the floor," Gillespie said. "Educated health care consumers are a catalyst for change, and empowering them with tools like HSAs will lead the charge toward a more transparent and affordable system."
Gillespie pointed to the new report released today by the NAM and the Manufacturing Institute to illustrate that rising health care costs are having a direct impact on American businesses. The study, the Escalating Cost Crisis, documents a 31.7 percent structural cost disadvantage for U.S. business, of which the rapid growth of employee health costs is a considerable part.
"Spiraling health care costs are putting significant pressure on American businesses and families, and it´s time for solutions for improved care and lower costs," Gillespie said. "This legislation will give consumers greater control of their health care spending. For our part, the NAM will continue to work with members of Congress to push for greater health care transparency and access to information that allows consumers are able to make informed decisions."
The National Association of Manufacturers is the nation´s largest industrial trade association, representing small and large manufacturers in every industrial sector and in all 50 states. Headquartered in Washington, D.C., the NAM has 10 additional offices across the country. Visit the NAM´s award-winning web site at www.nam.org for more information about manufacturing and the economy.
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