Washington, D.C. – U.S. Representative Mimi Walters (CA-45) released the following statement after introducing with five of her House colleagues H.R. 2207, the Flexible Spending Account (FSA) Act. H.R. 2207 would repeal the $2,500 cap on FSAs put in place by Obamacare and allow Americans to save for future health care costs in preparation for the upcoming King v. Burwell ruling. If the Supreme Court rules in favor of the plaintiff, millions of Americans could lose their health care subsidies and be faced with staggering costs. Allowing Americans to prepare their family for the negative effects of Obamacare is paramount to restoring power back to patients.
Said Rep. Mimi Walters, “Obamacare wrongly took healthcare decisions out of the hands of doctors and patients and promptly placed them in the hands of the federal government and Washington bureaucrats. One of the many negative health care policies put in place by Obamacare is the $2,500 cap on contributions to patients’ Flexible Spending Accounts. These tax-free financial accounts were created to incentivize patients to save and prepare for unexpected health care costs. However, the President’s misguided health care law suggests that he would rather Americans rely on the federal government for their health care needs instead of responsibly saving. This bill would return power back to patients and allow individuals to set aside the funds to handle out-of-pocket health care costs, large copays, and prescription medicine. At a time when there is more uncertainty than ever under the President’s health care law, this bill provides patients with the stability and flexibility they need to prepare for the worst.”
FSAs are employer-established tax-free financial accounts which employees can use for certain out-of-pocket health care costs. Employers can contribute to FSAs as part of an overall benefit package. Under President Obama’s current health care law, employees cannot contribute more than $2,500 to their FSAs. House members co-sponsoring the legislation include Rodney Davis (R-IL), Doug Lamborn (R-CO), David Joyce (R-OH), Mike Bishop (R-MI) and John Carter (R-TX).
Walters represents California’s 45th District and sits on the House Transportation and Infrastructure and Judiciary Committees.