Chamber Praises President Bush's Health Care Initiatives

WASHINGTON, DC—The U.S. Chamber of Commerce commended several health care initiatives that President Bush is expected to unveil in his State of the Union address, including the expansion of Health Savings Accounts (HSAs), the ability of individuals to deduct more out-of-pocket health care expenses from their taxes, and greater portability from one job to the next. All have been long-time Chamber priorities.

"Access to affordable coverage is our highest health care priority," said U.S. Chamber President and CEO Thomas J. Donohue. "The President's commonsense, market-based reforms will lead to dramatic improvements in health care and Congress should move swiftly to implement them.

"Making health savings accounts more appealing and attractive to a broader number of people and employers is essential," said Donohue. "HSAs are a low-cost option for employers and their employees, and they satisfy the growing consumer preference for greater choice and flexibility." Enrollment in HSA-compatible insurance plans has tripled to 3 million people in the last 10 months. The Chamber also supports the President's message of encouraging greater transparency in both cost and quality data, and widespread adoption of health information technology.

"Americans should also be allowed to deduct more of their out-of-pocket medical expenses, including premiums, co-payments, deductibles, and care that is not covered under their plan," said Donohue. Currently, employers receive tax deductions for the health insurance they buy for workers, but individuals and the self-employed who buy their own coverage don't get the same benefit. This parity is crucial."

Even with these changes, Americans must be able to rely on consistent health coverage. Health plans must offer greater flexibility and portability of that consistent coverage for workers when they change jobs or relocate, according to the Chamber.

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.

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