U.S. Chamber Applauds President's Signing of Bill to Improve Health Savings Accounts

WASHINGTON, DC-U.S. Chamber of Commerce Director for Congressional & Public Affairs, Katherine Strong, issued the following statement today praising the president's signing of H.R. 6111, the Tax Relief and Health Care Act of 2006, which includes important improvements to Health Savings Accounts (HSAs):

"This law addresses a key concern of HSA enrollees, namely that they would not have adequate funds accumulated in their accounts when faced with a medical problem. It does so by allowing several ways for employers and employees to fund their HSAs-through increased annual contribution limits, conversion from a Health Reimbursement Account, rollover from a Flexible Spending Account, and transference of funds from an Individual Retirement Account.

"As a leading member of the HSA Working Group-a broad coalition of employers, health plans, and financial institutions-the U.S. Chamber spearheaded efforts to win these significant improvements by building the case for change, educating lawmakers, and rallying the support of its members. The end result is that HSAs are now more workable for employers and the individuals participating in them."

The U.S. Chamber is the world's largest business federation representing more than 3 million businesses and organizations of every size, sector and region.

www.uschamber.com

# # #

06-198