King Introduces Two Healthcare Bills
Washington, D.C. – Congressman Steve King released the following statement after re-introducing the American Future Healthcare Act, which would give Americans back the rightful control over their own healthcare decisions and the Tax Free Health Insurance Act, which would eliminate taxes on health insurance for those in the individual market:
“With the forthcoming repeal of Obamacare, there is widespread agreement that the American people deserve policies that will offer healthcare solutions, not temporary fixes that will cause even more financial distress for consumers,” said King. “Today, I have re-introduced two pieces of legislation in an effort to provide sensible and affordable healthcare for all Americans.
The American Future Healthcare Act would work to give individuals the ability to make their own healthcare decisions by increasing deductible healthcare savings account (HSA) annual contribution limits to $10,000 per individual and $20,000 per joint return. In this way, HSAs would allow individuals to keep the dollars that they do not use and, unlike under current law, Americans could accumulate money in their HSAs even if they have high deductible health plans (HDHPs) or even no insurance at all. HSAs could also be used to pay health insurance premiums, regardless of the type of health insurance the individual has. Unlike Obamacare, this legislation encourages healthcare accountability over a lifetime, ensuring that our citizens and our nation as a whole thrive in the decades ahead.
The Tax Free Health Insurance Act would also encourage fiscal responsibility by making every health insurance policy fully tax deductible. In 2012, there were 20.9 million insured Americans who were compelled to pay their premiums with after tax dollars. This includes small business owners who own an LLC, LP, Sole Proprietorship or S-Corps that can deduct their employees’ health insurance, but are unable to deduct their own premiums. Under Obamacare, these individuals are forced to buy an even more expensive policy but denies the premium expense as a deduction. My bill fixes this inequity in the tax code and ensures that all people can deduct their health insurance premiums, creating an economic impact that will place extra dollars back into the pockets of taxpayers, especially small businesses.”
To view the original text of the American Future Healthcare Act, click here.
To view the original text of the Tax Free Health Insurance Act, click here.