|
|
The views expressed on this page are soley
those of the author and do not
necessarily represent the views of County
News Online
|
 |
State Representative Jim Buchy
HB 301--Health
Savings Accounts for State Employees
Currently, the Ohio House of Representatives is considering House Bill
301. This legislation, sponsored by Representative Michael Henne
and local Representative Stephen Huffman, would create an option for
state employees to choose a Health Savings Account in lieu of a
standard deductible health care plan.
Under this option the individual chooses a high deductible health care
plan with a low monthly premium. The employee then makes
contributions to a tax-free health savings account. These funds
are used to pay for eligible healthcare expenses until they reach the
set deductible for their health insurance plan.
Because high deductible health care plans have low premiums, the
monthly costs for both employee and employer are low. In many
cases the individual and their employer turn around and invest a good
portion of these savings into the health savings account. If
these contributions are not used right away for health care expenses,
the account continues to grow for future use. Funds can even be
withdrawn from the account for non-healthcare related expenses and,
under certain circumstances, the beneficiary only has to pay the
applicable taxes.
As a former business owner who has utilized these plans in the past, I
have seen why this is a common sense option. Many public and
private employers have already made this option available to their
employees because this plan can create considerable savings for all
involved.
House Bill 301 would require the state of Ohio to offer a health
savings account option. For those employees who choose this
option, the state would make a monthly contribution to the individual’s
health savings account that equals eighty percent of the difference
between the cost of a standard deductible health care plan and the
individual’s high deductible plan.
With this new option, employees would be able to choose whatever plan
best fits their family’s needs. This legislation has the
potential to save Ohio, state employees, and taxpayers money while
still meeting the healthcare needs of employees, making this a win-win
for all involved.
Please give me your opinion on this topic and others in the news this
month by completing an online survey at tinyurl.com/buchyjune2016
|
|
|
|
