Health savings accounts (HSAs) are a short-sighted remedy that fails to address the real obstacles to health care for Americans, especially lower-income women, said Judy Waxman, JD, vice president for health and reproductive rights at the National Women’s Law Center (NWLC). She testified May 14 at the House Ways and Means Subcommittee on Health hearing on HSAs.
Although proponents of HSAs state that they encourage saving for future healthcare expenses and allow consumers more control over healthcare choices, the NWLC maintains that HSAs are the wrong solution for uninsured women and families. Key reasons include the fact that high-deductible health plans require greater out-of-pocket spending, which will have the most impact on women. And because women are disproportionately represented among America’s low-income population, they are also less likely to benefit from any possible tax breaks or savings through HSAs, said Waxman. Read her testimony.
