Navigation Links
Senate Restrictions on Flexible Spending Accounts Spur New Campaign
Date:12/10/2009

WASHINGTON, Dec. 10 /PRNewswire-USNewswire/ -- Save Flexible Spending Plans, a national grassroots organization dedicated to protecting flexible spending accounts (FSAs), today launched a new campaign, "Ten Before Ten," that encourages Americans to voice their support for protecting the cost-saving benefit by sending 10,000 emails to their senators before the start of 2010. The campaign coincides with the Senate's consideration of legislative provisions that would significantly restrict the use of FSAs to help fund a portion of health reform, as well as an amendment filed by Senator Charles E. Schumer (D-NY) to adjust for inflation a proposed cap on FSA contributions. In a demonstration of the support for protecting FSAs, more than 50,000 emails have been sent by supporters to Congress and the Obama Administration since the launch of Save Flexible Spending Plans in July 2009.

"Now is a critical time for consumers to take action to protect their FSAs as the Senate considers pending provisions that would significantly restrict access to the benefit through a contribution cap and an amendment offered by Senator Schumer that makes sure the cap is indexed with inflation," said Joe Jackson, chairman of Save Flexible Spending Plans and CEO of WageWorks Inc., a benefits company based in San Mateo, California. "If the Senate fails to increase the proposed cap on FSA contributions and, at a minimum, index the cap to inflation, millions of Americans will face higher taxes, increased health care costs and a reduction in the value of this cost-saving benefit."

The Patient Protection and Affordable Care Act, pending in the Senate, includes a $2,500 annual cap on FSA contributions, which unlike in legislation approved by the House of Representatives, is not designed to adjust with inflation. An amendment (SA 2993) filed earlier this week by Sen. Schumer would resolve this problem by indexing the cap, ensuring that access to FSAs stay in line with increasing costs. Failing to adjust the contribution cap will cause the value of a $2,500 FSA to plummet to less than half its worth within a decade.

"Everyone that has come to rely on their FSA to hold down their health care costs has something at stake and should take the time to learn more and get involved in encouraging the Senate to protect the benefit," added Jackson. "Our supporters have shown strong opposition to the proposed restrictions, and we hope they will continue to push the Senate to support Senator Schumer's amendment and preserve this valuable benefit, which has empowered millions to play a more active role in managing their health care and getting the care they need."

Proposed restrictions on FSAs will force approximately 7 million hard-working Americans who use their FSAs to cover out-of-pocket health care expenses greater than $2,500 to pay higher taxes and health care costs. As currently crafted, the Senate legislation will cut in half the $5,000 limit on FSA contributions enjoyed by Federal employees. Additionally, state employees in 46 states who currently have FSA contribution limits set at $3,000 or more will be negatively impacted. Sadly, those with the highest out-of-pocket health care costs -- the sickest -- will be hit the hardest by restrictions on FSA use.

About Flexible Spending Accounts

Flexible spending accounts are voluntary, account-based plans that enable millions of Americans to use pre-tax dollars to pay for eligible out-of-pocket health care expenses like prescription drug co-pays, vision and dental costs, office visits and medical supplies.

Most FSA participants are middle income Americans, earning approximately $55,000 annually. Currently, limits on contributions to FSAs are set by individual employers.

Individuals and families with chronic illnesses typically receive the most benefit from FSAs. Even when they are insured, they incur annual out-of-pocket expenses averaging $4,398 per year, the Robert Wood Johnson Foundation found -- well above the proposed limit. Approximately 44 percent of Americans have one or more chronic conditions.

About Save Flexible Spending Plans

Save Flexible Spending Plans is a national grassroots advocacy organization that protects against the restricted use of flexible spending accounts in health care reform efforts. The campaign is sponsored by the Employers Council on Flexible Compensation (ECFC), www.ecfc.org, a non-profit organization dedicated to the maintenance and expansion of private employee benefit programs on a tax-advantaged basis. To learn more, take action and read the personal stories of FSA participants, please visit www.savemyflexplan.org.

SOURCE Save Flexible Spending Plans


'/>"/>
SOURCE Save Flexible Spending Plans
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Meth Project Chairman Testifies Before U.S. Senate Finance Committee
2. Senate Passes Mental Health Parity
3. Fairness Coalition Applauds Senate Passage of Mental Health Parity Bill
4. AHIP Praises Bipartisan Senate Vote on Mental Health Parity
5. Retailers Welcome Senate Passage of Mental Health Parity Bill, Urge House to Adopt Senate Version at Subcommittee Markup
6. Senate, House Announce Agreement to Renew, Improve Childrens Health Insurance Program Now
7. Statement on House/Senate Agreement on SCHIP Legislation
8. A Breath of Fresh Air From Washington: Senate Passes Historic Asbestos Ban
9. Michigan Senate Committee Votes in Favor of Opt-Out Option for States Helmet Law; AAA Says Deaths and Injuries Will Increase
10. Pharmacists Press Conference Urging Senate Majority Leader Harry Reid to Fix Flawed Medicaid Drug Reimbursement Rule
11. Written Statement of Kevin J. OConnor, Chairman of the Department of Justice Task Force on Intellectual Property, at the Senate Judiciary Committee Hearing on Intellectual Property Enforcement
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/17/2017)... ... , ... A recent report indicates that circa 79 percent of 483 warning ... data integrity. The FDA outlines their expectations for quality critical instrumentation in the GMP ... the Beckman Coulter Life Sciences Virtual Trade Show Virtual Event, this webinar ...
(Date:8/16/2017)... ... ... The next Patient Care Academy at Kalamazoo Valley Community College begins September ... seven-week long Patient Care Academy are eligible to take the State of Michigan examination ... in Kalamazoo is $24,428.* , As a CNA, one is equipped for employment in ...
(Date:8/16/2017)... ... 2017 , ... Greenfield Advisors is honored to be named to Inc. Magazine’s ... in a row. The Inc. 5000 list honors private businesses across the country that ... list once is a great accomplishment, but for us to be included again goes ...
(Date:8/16/2017)... ... August 16, 2017 , ... Any Lab Test Now® ... ranked #4429 on the newly released, 36th annual Inc. 5000 , the most ... at the most successful companies within the American economy’s most dynamic segment — its ...
(Date:8/16/2017)... New York (PRWEB) , ... August 16, 2017 , ... ... could minimize its appearance with diet and exercise. In fact, cellulite can't always be ... a safer and more effective treatment available to select physicians nationwide. Dr. Kenneth Rothaus ...
Breaking Medicine News(10 mins):
(Date:8/15/2017)... announced today that its fully owned USA -operating ... City Office in Yonkers, New York to ... 2 ) homecare therapy. This new East Coast location has also ... the company,s DMEPOS accreditation for Home/Durable Medical Equipment Services. ... Advanced Oxygen Therapy Inc. New York ...
(Date:8/10/2017)... -- Physical Rehabilitation Network (PRN), acquired the long-standing outpatient rehabilitation clinic, ... . The reputable clinic will continue to be co-owned and ... staff of four clinicians. Lipkin received his doctorate in physical ... years of experience with a strong background in manual therapy. ... 10th PRN clinic in and around the Denver ...
(Date:8/7/2017)... 7, 2017 Insightin Health, provider of ... and engagement, announced the selection of Michael ... Development, effective as of February 2017. In this role, ... strategy for our clients. Wood brings with him ... and business analytics within the healthcare industry. Wood ...
Breaking Medicine Technology: