Samaritan Ministries for The Washington Times: Expand health savings accounts to boost economy


sharon-mccutcheon-8lnbXtxFGZw-unsplash (1).jpgBy Ted Pittenger for The Washington Times

As the federal government struggles to disburse aid fairly to households and businesses financially wounded by the pandemic, here’s a delivery mechanism Congress should consider: Allow every American to own a health savings account (HSA), guaranteeing relief to people when they need it most.

COVID-19 financial relief programs have proven the government’s inability to pay millions of people and companies at once. By mid-June, about 30 million people eligible for stimulus checks worth between $500 and $1,200 per person had not received them. Some awoke in April to find the U.S. Treasury had direct-deposited the wrong amount into their accounts. Others don’t understand whether they’re eligible, whether they must prove it, or whether their 2018 or their 2019 adjusted gross income constitutes proof.

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